UK unemployment benefits rise most in 15 years
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.
Certainly, this is another chink in the armour. In the EU, I see Denmark, the UK, Ireland and Spain all as being in recession.