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Jobless figures likely to show rise
11.11.09
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The Government is eagerly awaiting new unemployment figures for any evidence of an improvement in the jobs market.
But analysts expect the latest data to show an increase on last month's total of almost two and a half million, while campaign groups will be looking to see if youth unemployment passes the politically-sensitive one million mark.
The Government will also confirm plans to create over 30,000 new jobs for youngsters as part of the Backing Young Britain campaign, in roles including healthcare, insulation, computing and engineering.
The jobs will be part of the Future Jobs Fund - a £1 billion pot of money available for councils, charities and voluntary sector organisations to create jobs for 18-24 year olds and those in areas of particularly high unemployment.
Meanwhile, separate figures out on Wednesday is expected to signal a slow and lingering recovery for the UK economy.
Bank of England Governor Mervyn King is due to publish the Bank's latest economic forecasts.
Its quarterly inflation report comes less than a week after rate-setters voted to bump up efforts to boost the money supply with a £25 billion expansion of quantitative easing to £200 billion.
Although the Bank is easing back the pace of QE, policymakers decided a bigger spur to the economy was needed to help hit the 2% inflation target amid prospects of a "slow recovery".
Since its August forecasts, official estimates showed a shock 0.4% fall in output between July and September - a record sixth straight quarter of decline - when the UK was expected to pull out of recession.
This could lead the Bank to mark down growth forecasts for next year - with the economy climbing out of the slump at a slower pace than first thought.
Reader views (1)
If Future Jobs Fund is another lousy quango then the £1,000,000,000.00 allocated would just about cover the obscene expenses by those at the top of this disgraceful quango.
Forget the spin and waffle government statistics on the unemployed.
There are currently OVER 4,000,000 on the dole scrap heap in the UK - over 1,000,000 of those are under the age of 24 years.
Does your local MP give a hoot? Don't make me laugh!!
- Reuben Camara, Plot 1, Morecambe Compound, EUSSR
