UK jobless total set to spiral as the credit crunch bites
UNEMPLOYMENT in the United Kingdom will jump to 7.1 per cent next year, according to estimates published by the European Commission.
The national jobless total is predicted to rise by 1.4 per cent from this year's 5.7 per cent of the labour force, says an EU forecast, warning that the whole European economy is likely to "grind to a standstill".
The report singles out the UK as facing a "budget deficit and debt spiral" as the national economy contracts at its fastest rate since 1992.
The predicted 1.4 per cent rise in UK unemployment next year is only exceeded in the EU by Spain (3 per cent), Latvia (2.7 per cent), Lithuania (2.2 per cent) and Estonia (1.7 per cent), according to the Commission figures.
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Wednesday 16 May 2012
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