The number of Britons claiming unemployment benefit is rising at its sharpest rate since December 1992 as companies including housebuilders, airlines and banks shed jobs as the economy teeters on the edge of recession.
Official figures show that the claimant count in August jumped by 32,500 – higher than the 22,300 forecast by analysts – piling more pressure on Bank of England policymakers to cut interest rates.
But the majority of the Bank's monetary policy committee appeared to be firmly against a rate cut. Minutes, released yesterday, from the Bank's latest policy meeting showed that only one member of the committee voted for a cut.
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