Unemployment could hit 2.5bn
- 00:01:04
- ITN
Unemployment could hit 2.5bn
There are fears the UK's jobless total could top 2.5 million when the latest figures are released later. Unemployment currently stands at 2.47 million but the Office of National Statistics is likely to announce an increase. It had been a week of positive signs for the economy, with the news that retailers enjoyed their best October sales growth for seven years last month. Barclays and HSBC gave hope that consumer debt woes are starting to ease. And a new poll shows optimism about the economy is at its highest for 18 months. But unemployment shows little sign of slowing. On Tuesday, Lloyds Banking Group announced that 5,000 jobs will go in 2010, on top of 10,000 already slashed this year, And Swedish telecoms giant Ericsson said it will close a site in Coventry with the loss of 700 jobs.
ITN | November 11, 2009
