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| UK unemployment hits 2.38 million | UK unemployment hits 2.38 million |
| (10 minutes later) | |
| UK unemployment rose by a record 281,000 to 2.38 million, in the three months to May, the Office for National Statistics said. | UK unemployment rose by a record 281,000 to 2.38 million, in the three months to May, the Office for National Statistics said. |
| The jobless rate increased to 7.6%, the highest in more than 10 years. | The jobless rate increased to 7.6%, the highest in more than 10 years. |
| But the number of people claiming unemployment benefit increased by 23,800 in June to 1.56 million which was less than analysts had forecast. | |
| Businesses have been cutting jobs as they seek to reduce costs in the wake of the global downturn. | Businesses have been cutting jobs as they seek to reduce costs in the wake of the global downturn. |
| Even though economic conditions may be stabilising, economists expect unemployment to continue rising this year, as financial uncertainty persists. |