Osborne Must Brace for More Job Cuts, U.K. Recession Looms

Osborne Must Brace for More Job Cuts, U.K. Recession Looms

Jason Alden/Bloomberg

Unemployment, which climbed to 8.1 percent in the three months through August, will peak at 8.9 percent at the end of 2012, the most since 1995, the National Institute for Economic and Social Research said.