Britain’s unemployment rises by a record

Britain’s unemployment rises by a record

The number of Britons out of work increased by 281,000 in the three months to the end of May, the most for a quarter since records began in 1971. That increase drove the unemployment rate to 7.6pc from 7.2pc.

Business leaders have warned that the spectre of unemployment is likely to make any recovery protracted. Retail chiefs ranging from the boss of Tesco to the head of Argos have said that the fear of redundancy is hanging over consumers. Charlie Bean, the deputy governor of the Bank of England, said this week that the economy is probably bumping along the bottom. read more at http://www.telegraph.co.uk/finance/financetopics/recession/5833371/UK-unemployment-hits-highest-since-1971.html