UK Unemployment rate hits 16-year high

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The UK's unemployment rate increased to a 16-year high after another rise in the jobless total.

Unemployment jumped by 48,000 in the quarter to December to 2.67 million, a jobless rate of 8.4%, the worst figure since the end of 1995.

The number of people claiming Jobseeker's Allowance rose by 6,900 in January to 1.6 million, the 11th consecutive monthly increase. The number of women claiming the allowance increased by 1,500 last month to 531,700, the highest figure since the summer of 1995.

A record number of people are working part-time because they cannot find full-time jobs - up by 83,000 over the latest quarter to 1.35 million. Employment increased by 60,000 to 29 million, mainly due to a rise of 90,000 in the number of part-time employees to 6.6 million.

Other data from the Office for National Statistics showed a 22,000 increase in youth unemployment to 1.04 million, which includes 307,000 in full-time education who were looking for work. The 48,000 increase in unemployment was the smallest quarterly rise since last summer.

The Government said the figures showed that despite continuing economic challenges, the labour market was stabilising, with Minister for Welfare Reform Lord Freud adding: "With more people in employment and a rise in vacancies, it is clear the private sector is still creating jobs. However, we are not complacent. With more people in the labour market we know that competition for those jobs is tough and we will continue to make it our priority to find people work."

Shadow work and pensions secretary Liam Byrne said: "This Government is creating a jobless generation, with more young people out of work than ever before. Today's figures make for grim reading for the millions of squeezed families desperate for good news on the economy. With unemployment at its highest rate since 1995 and long term youth unemployment doubling in the last year, ministers must now get a grip."

Paul Kenny, general secretary of the GMB union, said: "As it is clear that austerity and deflation as a policy is not working, it is both surprising and shocking that there are so few demands from Tory backbenches, from the CBI, from the City and from the Liberal and Labour parties that the policy be abandoned in favour of sure fire ways of getting people back to work."

TUC general secretary Brendan Barber said: "These figures are bad, although thankfully not quite the disaster we saw at the end of last year. With one in three jobseekers looking for work for over a year, and around six unemployed people for every job, the Government's mantra that there are plenty of jobs out there just doesn't ring true."

David Kern, chief economist at the British Chambers of Commerce, said: "In the face of challenging economic circumstances, both in the UK and in the eurozone, these figures are better than the markets expected. Although the increase in employment was stronger than expected, there is a slight cause for concern."

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David Kern, chief economist at the British Chambers of Commerce, said: "In the face of challenging economic circumstances, both in the UK and in the eurozone, these figures are better than the markets expected. Although the increase in employment was stronger than expected, there is a slight cause for concern."

Who care these numbers, we just want to see the stock price up and pushing up by another QE from Bank of England!