UK unemployment figures rise to new heights

18^th January 2012

Leke Sanusi

Leke Sanusi

18 January 2012

With last month’s Christmas cheer all but gone and the sheen of the new year rapidly fading, thousands of jobseekers across the country have been winded and knocked back by the news that UK unemployment has reached a 17-year high, as the number of jobless Britons rose to 2.68million.

The announcement indicates the figures rose in the three months to November. This puts the UK jobless rate at 8.4%. Thousand of jobseekers hopeful of employment face increasing difficulties when searching for work. Added competition and reduced opportunities have exacerbated conditions, particularly for young job hunters. Statistics show the number of out of work 16 to 24 year olds has increased by 52,000 to 1.04million.

Although figures stress the number of people in full-time employment fell by 57,000; the announcement also highlights a 75,000 rise in part-time workers, with many opting for part-time employment due to the dearth of full-time job opportunities. Reports also emphasise the increase in the number of self-employed people, reiterating the growth of new business owners resorting to creating their own ventures due to the lack of alternatives and options.

Figures released next week are expected to reveal whether the economy expanded in the final three months of 2011. Analysts are said to be expecting a negative figure, casting an even gloomier pall depression over the prospects of job hunters.

Leke Sanusi