UK Unemployment Rate Rises to 8.4%
The unemployment rate in the UK rose to a 16-year high of 8.4% in the 3 months through November 2011. Unemployment benefits claims also rose for the tenth consecutive month to 1.6 million. The number of unemployed rose by 118,000…
The unemployment rate in the UK rose to a 16-year high of 8.4% in the 3 months through November 2011. Unemployment benefits claims also rose for the tenth consecutive month to 1.6 million.
The number of unemployed rose by 118,000 in the three-month period and the number of people with jobs increased by 18,000. The country’s conservative government said that “the increase in employment showed private companies created jobs at a faster pace than the government eliminated them,” according to Bloomberg News. If you say so …
The government expects private employers to hire the workers that the government is firing as it tries to lower its fiscal deficit. But layoffs and plant closings make that a dubious hope at best.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
