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Jobseeker's allowance claimants rise unexpectedly

Jobseeker's allowance claimants rise unexpectedly
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There has been an unexpected rise in the number of unemployed people claiming jobseeker's allowance.

Latest data from the Office for National Statistics has revealed that 23,500 more individuals were receiving such benefits in the three months to December 2009, suggesting that they may be looking for ways to earn extra money.

The climb contrasts with analyst forecasts, as the general consensus had been that the figure would decline by 10,000 when compared to results from between July and September last year.

However, the overall number of people without a job fell slightly, dropping 3,000 to 2.46 million and taking the unemployment rate to 7.8 per cent.

The figures, Royal Bank of Scotland's Chris Walker told Reuters, "fit more with the underlying reality" of the sluggish recovery of the UK economy.

And, earlier this week, Jonathan Loynes of Capital Economics claimed that the Bank of England's latest Inflation Report is overly optimistic with its predictions for economic growth.

Posted by Clive ArneilADNFCR-1681-ID-19621369-ADNFCR