UK's unemployment figure nears 2-mn mark

Reflecting the ripple effect of recession, the unemployment level in the United Kingdom has increased to 1.97 million for the first time since 1997.

According to the data provided by the Office for National Statistics, for the three months to December 2008, "The number of unemployed people increased by 1,46,000 over the quarter and by 369,000 over the year, to reach 1.97 million (the highest figure since the three months to August 1997)."

The figure of unemployment may cross the psychological 2 million mark, if the job losses since the beginning of this year is taken into consideration.

Further, according to official estimate the redundancy level for the September to December period was 2,59,000, up 1,04,000 over the quarter and up 1,48,000 over the year. This is the highest figure since comparable records began in 1995.

Recessionary fears were further confirmed as the official estimate said there were 5,04,000 job vacancies in the three months to January 2009, down 76,000 over the previous quarter and down 1,79,000 over the year. This is the lowest figure since comparable records began in 2001.

The data further revealed that there has been a fall in the number of people in employment and the employment rate. The number of unemployed people, the unemployment rate and the claimant count have all increased.