View more on these topics

UK unemployment rises to 2.44 million

The number of unemployed people in the UK has risen to 2.44 million, the highest figure since 1995.

According to figures from the Office for National Statistics, the jobless rate rose to 7.8 per cent as 220,000 people lost their jobs in the three months to June.

The statistics show that 1.58 million people were claiming unemployment benefit in July, an increase of 24,900 in one month and up 709,000 over the year.

Liberal Democrat Shadow Work and Pensions Secretary Steve Webb says: “The Government needs to look urgently at the gaps in the safety net to make sure that people who are out of work are getting the support that they need to see them through this difficult period.

“Unemployment assistance needs to be more personalised and JobCentre staff need to be given the resources necessary to help people get back on their feet quickly.

“Young people should be getting intensive support as soon as they sign on instead of having to wait a year for a guarantee of a job or training place. With vacancies at a record low, it is vital that we prevent today’s school and university leavers from becoming a lost generation of long-term unemployed.”


Final call

Thoughts of pensions may have been put on the back-burner for many people, given the economic turmoil and rising unemployment. Spare cash is at a premium for many households, with getting by day to day the order of the day rather than planning for those retirement years.

The Merchants Trust PLC – April 2017

Welcome to the latest update for The Merchants Trust PLC from the Trust’s portfolio manager, Simon Gergel. Portfolio Review The Merchants Trust reported results this month and the directors were pleased to announce a 35th consecutive year of dividend growth (subject to shareholder approval at the AGM). The Company is proud to be highlighted as […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm