This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8151017.stm
The article has changed 15 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| UK unemployment hits 2.38 million | UK unemployment hits 2.38 million |
| (11 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 has 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. |
| 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. |
| 'Conflicting signals' | |
| Even though economic conditions may be stabilising, economists expect unemployment to continue rising this year, as financial uncertainty persists. | Even though economic conditions may be stabilising, economists expect unemployment to continue rising this year, as financial uncertainty persists. |
| Vicky Redwood of Capital Economics said the latest figures contained "conflicting signals about whether conditions in the labour market are getting better or worse". | |
| "The claimant count measure of unemployment in June posted its smallest rise in a year. However, the wider ILO measure posted its biggest rise on record." | |
| But, she said, unemployment was unlikely to fall until economic growth returned to its trend rate, and this would take a long time. | |
| Average UK earnings including bonuses increased at their highest rate since December, up 2.3% in the three months to May from a year ago. | |
| However, excluding bonuses average earnings rose at 2.6% - the lowest rate since records started in 2001. |