UK Unemployment Reaches Alarming Proportions

The United Kingdom’s Office for National Statistics has released troubling unemployment figures, pegging the unemployment rate at 8.1%.

This figure represents 2.57 million people without jobs and the UK is faced with an increase of 114,000 unemployed, its highest unemployment rates since 1994 or in 17 years.

The number of youth (aged 16 -24 year old) also increased by 74,000 to 991,000, a figure representing 21.3% of the employable youth in that demographic.

Government officials have attributed the rise in unemployment to the global financial crisis. Chris Grayling, employment minister, said: “It is clear that we are seeing the effect of the international economic crisis on the UK labour market.”

Opposition members in the British government spoke against inefficient government policies as the cause of the economic troubles.
The shadow work and pensions secretary, Liam Byrne, said the news marked “a day of judgment for the government”. He further stated, “today’s figures are the clearest proof yet that the government’s decision to cut too far and too fast is hurting and just not working. Unemployment is soaring, and more young people are out of work than ever before.”