According to official figures released today, unemployment in the UK rose to 2.52m between November and January, an increase of 7,000 people.
The overall unemployment rate in the UK now stands at 7.8%. However, the number of people claiming Jobseeker’s Allowance fell to 1.54 million in February, the lowest figure since June 2011.
Youth unemployment also rose in the same three month period, with the number of 16-24 year olds without a job now standing at 993,000 (21.2%).
Despite the rising unemployment rates, today’s Budget brought good news, with a cut in employer’s National Insurance meaning more small businesses may be encouraged to take on workers in the future.