UK Unemployment Highest in 14 Years

UK Unemployment Highest in 14 Years: UK Office of National Statistics (ONS) yesterday announced that unemployment in February reached eight per cent the highest since 14 years ago. By using the International Labour Organisation (ILO), unemployment in the UK in February, equivalent to 2.5 million people. In comparison, unemployment in the UK in January and only 7.8 percent.

Quoted from Reuters, Wednesday (21/4/2010), although reaching record highs, but according to the ONS, claims for unemployment benefits in March actually declined more rapidly in the last three months. Last month the jobless claims in the State of Queen Elizabeth down to 32,900 people in February compared to 40,100 persons. While analysts predict decline in unemployment claims in March as many as 10 thousand people.

his latest data is expected to influence the public against the government pekercayaan which will hold general elections on May 6 next.

Elsewhere, the Monetary Policy Committee (the Monetary Policy Committee / MPC), the Bank of England (Bank of England / BOE) yesterday announced the interest rates at 0.5 percent the lowest level.

In the MPC meeting that was held 7-8 April, also agreed to maintain funding amounting to 200 billion pounds to finance a troubled asset purchase program. MPC also agreed that the latest data does not change the insights to the UK economy about future economic prospects.
[Finance - UK Unemployment Highest in 14 Years]