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22/04/2009
UK Unemployment Reaches 2.1m
The latest unemployment figures have been released, ahead of today's Budget, showing an increase by 177,000 to 2.1 million.
The grim figures were published as the Office for National Statistics (ONS) revealed those claiming jobseeker's allowance increased by 73,700 last month to 1.45 million - the highest total since September 1997.
Net borrowing for March reached £19.1 billion - the highest level for a single month since records began in 1993 - the ONS added.
Government borrowing also reached £90bn this year, £12bn more than estimated in November.
People on long-term sick leave, those taking early retirement or have given up looking for work, remains at more than 20% of the workforce at 7.85 million.
Job vacancies fell by 68,000 in the quarter to March to a record low of 462,000, while a record 270,000 people were made redundant in the three months to February, the figures also revealed.
The figures have been released just hours before Chancellor Alistair Darling stands up in the Commons to outline his Budget.
It is understood Mr Darling will say the final bill for rescuing British banks will reach £60 billion.
Last night the International Monetary Fund (IMF) was forced to admit a mistake when it claimed the UK faced a £200bn bill for bailing out the banks.
A Treasury spokesman said the figure had been issued in the IMF's Global Financial Stability Report in error.
"The Budget will make a prudent provision for potential losses from banking interventions in line with our cautions approach to forecasting the public finances," the spokesman said.
(JM/BMcC)
The grim figures were published as the Office for National Statistics (ONS) revealed those claiming jobseeker's allowance increased by 73,700 last month to 1.45 million - the highest total since September 1997.
Net borrowing for March reached £19.1 billion - the highest level for a single month since records began in 1993 - the ONS added.
Government borrowing also reached £90bn this year, £12bn more than estimated in November.
People on long-term sick leave, those taking early retirement or have given up looking for work, remains at more than 20% of the workforce at 7.85 million.
Job vacancies fell by 68,000 in the quarter to March to a record low of 462,000, while a record 270,000 people were made redundant in the three months to February, the figures also revealed.
The figures have been released just hours before Chancellor Alistair Darling stands up in the Commons to outline his Budget.
It is understood Mr Darling will say the final bill for rescuing British banks will reach £60 billion.
Last night the International Monetary Fund (IMF) was forced to admit a mistake when it claimed the UK faced a £200bn bill for bailing out the banks.
A Treasury spokesman said the figure had been issued in the IMF's Global Financial Stability Report in error.
"The Budget will make a prudent provision for potential losses from banking interventions in line with our cautions approach to forecasting the public finances," the spokesman said.
(JM/BMcC)
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