Unemployment in the UK has touched record 16-year high. It increased by 43000 within a period of 3 months.

These figures are expected to create a major setback for labour party in the upcoming general elections.

According to the Office of National Statistics, the unemployment rate is now eight per cent, higher than the expected 7.8 per cent. The current rate is highest since 1996.

However, there's a bit of relief as the claims for jobseekers allowance had witnessed a fall of 32,900. These figures were better than the expectations.

Though the unemployment rate is still well below the 9.7 per cent in the US and 10 per cent in the Eurozone, economists believe that the rate is getting closer to peak.

As per other statistics, the number of people employed has dropped to 28.82 million, a fall of 89,000. Economically inactive class of people went up by 110,000 to 8.16 million at the rate of 21.5 per cent, the highest since 1971.

Talking about opportunities, vacancies rose by 9,000 to 475,000 in the last three months.