Lord Oakeshott
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UK unemployment 'nothing to do with eurozone'

Lib Dem Lord Oakeshott has said the government's assertion that rising UK unemployment is the being fuelled in part by the eurozone crisis is incorrect.

He argued that unemployment is a lagging indicator, which reflects the state of the UK economy months earlier - and could not be affected by the current financial instability elsewhere in Europe.

UK unemployment rose by 129,000 in the three months to September to 2.62 million, as youth joblessness rose above a million.

  • 16 Nov 2011
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