U.K. Unemployment Hits 2.5 Million
Data released today by the UK Office for National Statistics and the International Labor Organization showed that, although the number of unemployment claimants dropped slightly in March, the total number of unemployed in the UK has reached its highest point in the last fifteen years, with total unemployment hitting over 2.5 million. The total unemployment rate is at 8% - the highest since 1996. However, the number of people receiving jobless benefits did decrease in March for the fourth time in the last four months. The data are likely to have a significant result on the UK general elections taking place in two weeks, and will likely not have a positive effect for incumbent Prime Minister Gordon Brown, especially with the opposition Conservative Party arguing that the Labour Party's policies are 'killing recovery.'
See "U.K. Unemployment Hits 2.5 Million", Nicholas Winning & Ilona Billington, The Wall Street Journal, April 20, 2010