UK unemployment benefits rise most in 15 years

By Edward Harrison On Jul 16, 2008

When people start losing their jobs, spending goes down. Nothing ties this credit crisis to the real economy like unemployment. And in the UK, it’s rising fast.

The Office for National Statistics said the amount of people claiming Jobseeker’s Allowance increased by 15,500 to 840,100 in June.

It is the biggest monthly rise since December 1992 and the fifth consecutive rise in the claimant count, the ONS said.

-Sky News, 16 Jul 2008

Certainly, this is another chink in the armour. In the EU, I see Denmark, the UK, Ireland and Spain all as being in recession.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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