Unemployment is at all time high in U.K as there was an increase of 281,000 in the number of unemployed people in three months to May. According to the Office of National Statistics, there are 2.38 million unemployed people in U.K. This is the highest unemployment in U.K. in more than 10 years with unemployment rate hitting 7.6%. The degree of the problem becomes more visible when we see an increase of 23,800, in the month of June, in the number of people who are taking unemployment benefits.

Highest unemployment growth has been in the group of young people. With 726,000 unemployed young people, this is the highest unemployment since last 16 years for young people. Another concern is that the number of young people out of work for over a year has gone up to 528,000, highest in last 11 years.

There has been news in the market for some time in the improvement in economic conditions but analysts believe that unemployment will rise this year as well in U.K. The main reason behind is financial uncertainty among everyone. U.K. seems to be in trouble with more and more people graduating every year and looking for jobs when there aren’t many.