U.K. To Probe Clash In Jobless Data: FT

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The British government launched an urgent inquiry into the striking discrepancy between two sets of unemployment data, the Financial Times reported Tuesday.

The number of unemployed people rose 400,000 since February to reach 2.381 million in July, under the International Labor Organization's count. But, the number of people claiming for jobseekers' allowance is increasing at a slower pace. After a huge increase of almost 140,000 in March to 1.391 million, the number rose 57,000 in May, 39,000 in June and 23,800 in July.

Yvette Cooper, the work and pensions secretary, announced an analysis that would examine why the numbers signing on for unemployment benefit had risen at a much slower rate than the International Labor Organization's count, the FT said.

The British government launched an urgent inquiry into the striking discrepancy between two sets of unemployment data, the Financial Times reported Tuesday. (Market News Provided by RTTNews)