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Unemployment poised to rise again UK unemployment climbs to 2.44m
(9 minutes later)
The number of people out of work is expected to rise again when the latest UK unemployment figures are released by the Office for National Statistics. The number of people out of work in the UK has risen again, the latest official figures show.
The jobless rate increased by 281,000 to 2.38 million in the three months to May - the highest jump since 1995. The jobless rate increased by 220,000 to 2.44 million in the three months to June - the highest level since 1995.
More clues on the health of the economy will be revealed in the Bank of England's quarterly inflation report. The figures come ahead of he Bank of England's quarterly inflation report which will offer more clues on the health of the UK economy.
It will also provide more details on quantitative easing - its policy of injecting cash into the economy.It will also provide more details on quantitative easing - its policy of injecting cash into the economy.
Meanwhile, the Financial Services Authority is to publish a code of conduct for bank salaries and bonuses.
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Its head, Hector Sants, warned banks against returning to the days of risky bonuses.
Chief executive Mr Sants told the BBC he did not expect "multi-year guarantees" to be paid.
'Saddled with debt'
There is rising concern about youth unemployment, which Business Secretary Lord Mandelson said the government needs the help of businesses to tackle.
The current jobless rate is about one in six for 18 to 24-year-olds, not far behind the highest tally of 17.8% in March 1993.
Work experience, mentoring and internships are needed to avoid a generation "lost to work", Lord Mandelson told the BBC.
"This is something the whole country has got to rally to. We need public and private employers, as well as those in the third sector, to help us mount this national campaign to back young Britain."
A group called the Youth Fight for Jobs Campaign says there is a lack of training and affordable housing for younger people.
Campaigner Manuel Dominguez said: "It's about highlighting that there's a problem, and also saying to the government, and local MPs, and councillors, what are you going to do about it?
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"Young people don't get proper training, a lot of working class young people get put off from going to university and being saddled with debt."
A new crop of school leavers and university graduates will join the jobs market this summer.
The Bank of England is to reveal later how it thinks the economy will perform over the next two years when it publishes its quarterly inflation report.
Last week the Bank kept interest rates on hold at 0.5%, but injected another £50bn into the economy.
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