September 16, 2009

Number of jobless grows in Britain

The number of unemployed reached 2.47 million in Britain in July, the government statistics office said Wednesday.

Among 16-24 year-olds, 947,000 were recorded as unemployed in the latest report, a jump of about 60,000. One in five youths in Britain are now listed as unemployed, The Times of London reported Wednesday.

The unemployment rate for youths is a record 19.7 percent. For the country as a whole, the unemployment rate is 7.9 percent, a 13-year high.

More workers, particularly young workers, are paying a devastating price for the bankers' recession, said Paul Kenny, general secretary for the GMB, a general trade union.

Bank of England Gov. Mervyn King suggested Tuesday the British economy was showing signs it was growing again.

He was sounded more cautious than U.S. central bank Chairman Ben Bernanke who said the U.S. recession was winding down.

King said the speed of a recovery was highly uncertain.