Could BCC results be good news for finance jobs in London?

The British Chambers of Commerce (BCC) has revised its earlier forecast for unemployment levels in the UK, claiming the rate of joblessness will peak a year later than originally predicted.

In what could be good news for those looking for finance jobs in London, the body also anticipated that gross domestic product (GDP) would grow by 1.7 per cent during 2010 and 2.2 per cent in 2011, before falling to 1.8 per cent in 2012.

This is in contrast to June's forecast, when the BBC anticipated that GDP growth would stand at 1.3 per cent this year and two per cent in 2011.

Meanwhile, unemployment will increase over the coming 18 months, but will not peak until the early part of 2012, when it is believed it will stand at 2.65 million - 8.3 per cent of the current workforce.

David Frost, the BCC's director general, said: "There must be a relentless focus on ensuring that business is able to deliver growth and create employment. We need policies that [...] enable the private sector to invest, export and create new jobs."

The BCC is the national body for the UK's Network of Accredited Chambers of Commerce.