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Many experts had predicted that unemployment levels could reach two million, the highest since 1997.
Unemployment is currently running at 6.3 per cent, those on stock market courses may be interested to learn.
Tony Dolphin, the senior economist at the Institute for Public Policy Research (IPPR), claims that there is a possibility that unemployment will reach three million this year.
He commented: "We would expect to see another significant increase in the number of people out of work in the figures published next month, as many more firms were forced to cut staff early in the New Year."
Among the hardest hit of the UK population are those between the ages of 18 and 24.
The IPPR has been producing independent research since 1988.
It aims to promote a "just, democratic and sustainable world".
