The Bank of England's (BOE) David Blanchflower said Monday the recession in the UK could last longer than most are expecting.

Forecasters in a recession tend to be overly optimistic, he said. He was speaking at an event in London.

The BOE policymaker said England requires a large fiscal stimulus in the short term, which should be aimed at creating jobs.

Blanchflower added there will be a massive climb in unemployment in coming months, especially June, when school and university students graduate and begin looking for work.

He also said that the falling value of the pound has done nothing to boost demand for manufacturing products out of the UK, and thus employment in the manufacturing sector.

By Megan Ainscow, mainscow@economicnews.ca; edited by Nick Say, nsay@economicnews.ca