Wednesday, February 17, 2010
What’s going on! News like this and the pound stays stable on currency markets!
U.K. unemployment unexpectedly jumped in January to the highest level since Tony Blair led the ruling Labour Party to power almost 13 years ago as the recession destroyed work at businesses from carmakers to banks. Claims for jobless benefits rose by 23,500 from the previous month to 1.64 million, the highest since April 1997, the Office for National Statistics said today in London. The median forecast in a Bloomberg News survey of 27 economists was for a drop of 10,000. The Bank of England said last week that employment is at risk of falling â€œsignificantly furtherâ€ if the economyâ€™s recovery from the longest recession on record falters. Prime Minister Gordon Brown is counting on the pickup to gather momentum and help him to claw back voter support in time for an election due by June.