UK unemployment hits highest rate in 17 years

The number of unemployed people in Britain has hit its highest level for 17 years and includes a record number of youths without jobs, according to official figures released Wednesday. The Office for National Statistics reported that 2.57 million people were out of work between June and August, 114,000 more than same period last year and the highest since the autumn of 1994. The rising number, which include almost 1 million unemployed young people, comes as the economic slowdown continues in Britain amid fears that the country will be plunged into a double-dip recession. In parliament, Prime Minister David Cameron admitted that the figures were “disappointing,” after being challenged about his claim last year that the numbers would be falling by now. But economists suggested that there should not be any surprise about the increase with the economy growing at only half the pace it needs to in order to keep unemployment stable. Despite the figures, the Centre for Economics and Business Research (CEBR) said the latest rise in unemployment was unlikely to put the government off its austerity drive, which has been blamed for many job losses.