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UK unemployment levels creeping up

Published on 15/05/2013

Levels of unemployment in the UK have risen to 7.8% as the number of people out of work slowly increases, reports the Office of National Statistics.

UK unemployment has been rising gradually

According to the latest figures, the unemployment rate for January and March 2013 increased by 0.1% compared to the period from October to December 2012.

The number of people now unemployed in the UK reached 2.52 million which is an increase of 15,000 from the figure recorded October and December 2012.

Martin Beck, economist at Capital Economics, said: “Following recent positive news on the economy, today's UK labour market data provides something of a reality check."

In April 2013, the UK narrowly avoided a triple-dip recession and economists thought the economy may be turning a corner.

The economy grew 0.3% in the first quarter of 2013 according to the first estimate for gross domestic product from the Office of National Statistics.

Hugh Pym, economics correspondent for the BBC, feels that the economy has a bright future and unemployment may begin to level out rather than increase.

Pym said: “The ONS has confirmed what was becoming clear in the jobs market figures last month – which is the lengthy period of falling unemployment has come to an end.

“The latest weaker headline figures could reflect lack of growth at the end of last year and the pickup in economic activity in the first quarter of 2013 could point to a brighter picture on jobs later in the year.”

Income protection insurance policies can protect you against involuntary unemployment and could provide you with a tax-free monthly benefit should you become involuntarily redundant.

For more information on what protection you can take out and how it could benefit you read our FAQs and information guide on income protection.

© ActiveQuote Ltd. 2013

Categories:  Income Protection
UK unemployment levels creeping upLevels of unemployment in the UK have risen to 7.8% as the number of people out of work slowly increases, reports the Office of National Sta    tweet it on twittershare with your friends on Facebookshare with your friends on MySpaceBlog it on your LinkedIn profile

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