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The latest figures from the Office of National Statistics show a further rise in the rate of unemployment to 7.2%, the highest level since July 1997.

The number of unemployed people rose by 232,000 people between February and April, hitting a total of 2.261 million, with the number of people claiming jobseeker’s allowance reaching 1.554 million, an increase of 39,300.

"These jobless figures are slightly better than feared, but the overall situation remains grim," stated David Kern, Chief Economic Advisor for the British Chambers of Commerce.

Unemployment figures for people aged between 18 and 24 have increased to 16.6%, the highest rate since 1993 for this age group. It is expected for the rate to rise further over the summer, as graduates and school leavers look to enter the workforce.

This is in sharp contrast to the rate of employment for people of retirement age, which has actually risen by 2.6% from the same period in 2008.