Rising unemployment highlights worrying imbalances in UK economy
May 17, 2006 1:39 PM
Commenting on unemployment figures released today by the ONS which show that both the claimant count and the ILO unemployment rate have risen, Liberal Democrat Shadow Chancellor, Vince Cable MP, said: "The fact that the claimant count is now at its highest level since August 2002 and up over 100,000 in the last year highlights the worrying imbalances in the UK economy.
"Manufacturing continues to suffer while the housing market and large parts of the service sector continue to thrive.
"Unemployment is expected to rise further in the coming months and continue its disturbing trend. Yet we have heard nothing from the Chancellor on this issue.
"With higher council tax and energy bills hitting household budgets hard, rising unemployment will worry many families. It is likely that more households will feel the pinch with personal debt and mortgage repayments under greater pressure."
