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Wednesday, July 15, 2009

Unemployment rises again

Figures out today show that the UK unemployment rate in May was 7.6%, up from 7.2% in April.

This is a steeper rise than most forecasters had expected. It shows that unemployment is going to be a key policy issue in the months to come. Bold action is required. Former Bank of England Monetary Policy Committee member David Blanchflower emphasised this point again in an article in today's Guardian.

Labour is not asleep to this threat but we can do more.

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