Unemployment climbs steeply in London whilst falling across UK

Official figures today show that the number of people claiming unemployment benefit has risen 14% in the capital in the last two years whilst falling across the UK.

Figures show that the claimant count in London currently stands at 173,000 or 4.7% of its available workforce. This compares to 151,700 or 4.1% in July 2001, representing an increase of 20,300 or 14%.

Nationally, the claimant count has decreased nationally from 962,900 in July 2001 to currently stand at 952,000 - a fall of 10,900 or 1.1% over the last two years.

Commenting on the figures, Michael Ward, Chief Executive, said:  "These figures underline our concerns about London's economy and give the lie to the idea that everything is rosy in London. The steep rise in unemployment in the capital can be explained largely by the downturn in the financial and business services, and recent problems in tourism. This is the consequence of the capital’s exposure to international events."

"Although there are signs that London’s economy is reviving, none of us can afford to be complacent about the long-term health of the capital’s economic performance."

ENDS