UK unemployment numbers touch 2.38 mn

The number of unemployed people in the UK climbed to 2.38 million in the three months to May pushing the jobless rate to 7.6 per cent, reportedly the highest in more than ten years.     

With the British economy continuing to feel the tremors of financial turmoil, the count of people seeking unemployment benefits shot up to 1.56 million in June 2009.     

"The unemployment rate was 7.6 per cent for the three months to May 2009, up 0.9 over the previous quarter and up 2.4 over the year."

"The number of unemployed people increased by 281,000 over the quarter and by 753,000 over the year, to reach 2.38 million," the UK's Office for National Statistics said in a statement today.     

The jobless rate is reportedly the highest in more than ten years.     

Those claiming jobless benefits rose 23,800 to 1.56 million in June as compared to the previous month.     

"The claimant count, which measures the number of people claiming Jobseeker's Allowance, reached 1.56 million in June 2009. The count is up 23,800 over the previous month and up 716,800 over the year," the statement added.     

Grappling with the financial turmoil, more and more companies have resorted to layoffs as part of their efforts to bring down costs.

The recession-hit British economy has also seen a decline in employed people to less than 29 million for the three months to May. The count has come down by 269,000 over the quarter.     

According to the statement, there were 429,000 job vacancies in the three months to June 2009, the lowest since comparable records began in 2001.     

"All sectors have shown falls in vacancies over the quarter with the largest fall occurring in finance and business services (down 16,000)," it added.     

The jobless rate in the OECD region — a grouping of developed nations — touched 8.3 per cent in May. The Organisation for Economic Cooperation and Development includes the UK and the US.     

"The unemployment rate for the OECD area was 8.3 per cent in May 2009, 0.3 percentage point higher than the previous month and 2.4 percentage points higher than a year earlier," the OECD said in a statement on July 13.     

In the US, the unemployment rate stood at a 26-year-high of 9.5 per cent in June.