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Rise In Unemployment

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The number of people out of work and claiming unemployment benefit rose by 8,200 last month to 875,500.

This was more than double the number predicted - and the longest stretch of increases since the slump of the early 1990s.

In the three months to August, 151,000 people said they were made redundant, an increase of 23,000 from the previous quarter and the highest figure for two years.

Jobs continued to be lost in manufacturing, down by 99,000 in the three months to August, compared with a year earlier, to a record low of 3.2 million.

The total number of people out of work, including those not eligible for benefits, fell by 7,000 in the three months to August to 1.4 million.

The number of people classed as economically inactive, including those taking early retirement or looking after a relative, fell by 20,000 to 7.9 million in the latest quarter.

However, the rate for men at 16.6% was equal to the highest since records began in 1971.

Meanwhile, average earnings increased by 4.2% in the year to August, unchanged on the previous month as expected, and indicating that the recent jump in inflation is not feeding through to wages.

The figures are likely to boost expectations that the Bank of England will cut interest rates again in the next few months.

This is despite comments from BoE Governor Mervyn King, who stressed he is still keeping an open mind about the future direction of policy.


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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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