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The latest unemployment figures show that UK unemployment is slowing, but now stands at the highest figure for 15 years – almost 2.5 million, equating to 8% of the workforce. The number of people claiming unemployment benefit, however, fell to 1.63 million in October, the first fall for nearly two years.
Unemployment rate 1881 to 2017 [1] Unemployment in the United Kingdom is measured by the Office for National Statistics. As of February 2024, the U.K. unemployment rate is 3.8%, down from 3.9% in January. [2][3] In the three-month figures (July to September 2022) [4][needs update] the unemployment rate was estimated at 3.6%, which is 0.2 ...
In December 2009, it was revealed that the UK's unemployment total stood at almost 2.5 million – another monthly rise and the highest level for 15 years – but the number of people claiming unemployment benefit had actually fallen by more than 6,000. By this stage, the UK was one of the last major economies still in recession. [105]
By the end of 2009 the unemployment rate for men was 10.7%, while women's unemployment peaked at 8.4%. [59] This trend of the "mancession" was seen in other countries as well; in 2008 605,000 of the 891,000 who lost their jobs in the United Kingdom were men. [60] The stress of unemployment affects men and women differently.
The unemployment rate peaked at 10.0% in October 2009 and did not return to its pre-recession level of 4.7% until May 2016. [97] A key dynamic slowing the recovery was that both individuals and businesses paid down debts for several years, as opposed to borrowing and spending or investing as had historically been the case.
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
July 2009 Australian unemployment rate: 5.8% [28] August 2009 Australian unemployment rate: 5.8% [29] September 2009 Australian unemployment rate: 5.7% [30] October 2009 Australian unemployment rate: 5.8% [31] The unemployment rate for October rose slightly due to population growth and other factors leading to 35,000 people looking for work ...
Those under 25 years old are entitled to £56.25 a week in Job Seeker's Allowance (a lower amount than for over 25s). In economic terms youth unemployment equates to £10m a day in lost productivity [ 20] and the total direct cost of youth unemployment is £4.7bn a year. [ 21] Unemployment for over six months while a teenager also increases the ...