UK Unemployment Is At It's Highest In Six Years

Unemployment rose by 93,000 between May and July to 1.7 million, its highest level since 2000, figures have shown. Yet the Office for National Statistics (ONS) also said that the number of people claiming unemployment benefit fell in August by 3,900 to 950,100.

Analysts said that the unemployment figures presented a mixed picture that was unlikely to stop the Bank of England raising interest rates again this year.

The Bank is widely tipped to raise its borrowing costs by a quarter of a percentage point to 5% in November.

They added that the unemployment figures may well improve in coming months should the economy continue to expand.

 

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