The financial security of many Britons could be in danger going forward as unemployment is expected to rise in the next five years.
A study by the Centre for Economics and Business Research (Cebr) shows that joblessness will be at 10.7 per cent in 2016, up from the 2012 level of 9.5 per cent.
In addition, every region in the UK bar the south-east, east of England and London will see their unemployment rates rise.
This means the job market will be dogged by uncertainty in the coming years, with areas that heavily rely on the public sector – such as Northern Ireland, Scotland and Wales – set to be the worst affected.
Rob Harbron, one of the report's authors and an economist at Cebr, stated: "Five more years of pain are expected for much of the UK, with unemployment continuing to rise in almost every region."
He added the combination of rising unemployment, high inflation and low earnings growth will see family budgets continue to be stretched.