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Scottish unemployment rises for the first time in a year

Category: Scottish Economy — Paul Morgan on July 20, 2013

The latest data from the Office for National Statistics (ONS) has shown that Scottish unemployment has increased. It is the first time in 2013 that a rise has been reported.

The ONS said that unemployment rose by about 8,000 in the period from March to May this year. It puts the total number of jobless people in the country at 205,000.

While the national unemployment average is at 7.8 per cent, Scotland does still sit at 7.5 per cent. However, the latest figures have shown that the Scottish rise bucks the national trend, with the UK as a whole seeing a drop of 57,000.

Commenting on the news, the Scottish secretary, Michael Moore, said:

“The news that unemployment in Scotland has increased slightly over the last quarter is disappointing.”

However, he did go on to say that a drop in the number of people claiming Jobseekers Allowance was positive:

“This emphasises the importance of Scotland’s two Governments putting all their efforts towards creating opportunities and getting people back into long term sustainable employment.”

A large number of the country’s businesses are of the same opinion. It is such thinking that has driven them to improve their financial strategies.

Many firms have done this by taking advantage of invoice finance facilities, such as invoice discounting and factoring, in preference to traditional credit lines.

This has helped many to shore up their finances with a separate survey by the Scottish Council for Development and Industry (SCDI) suggesting that up to 40 per cent will take on new staff in the next year.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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