Wednesday 18 January 2012

Bad news about unemployment

Today UK unemployment reached another new high, raising fears that the economy is already back in recession.
 
According to the Office for National Statistics (ONS), the jobless total across the country reached a 17-year high as it rose by 118,000 to 2.68 million in the last three months, giving the UK a jobless rate of 8.4 per cent.

Also youth unemployment hit a record as the number of jobless increased by 52,000 to 1.04 million, the highest since records began in 1992.

British economy has not being growing for a year and is not moving forward.

Those who are lucky enough to get a job are often forced to take temporary or part-time positions as there is not enough growth in the labour market to absorb the numbers being laid off during the last three years.

Chancellor of the Exchequer George Osborne declared in November that far more jobs will be lost from central and local government than previously admitted and economists fear that the present economic climate could send unemployment soaring to 3 million by 2013.

Paul Kenny, general secretary of the GMB-British General Union said: “This rise in unemployment was made in Downing Street. The truth is that jobs are haemorrhaging in the public and private sectors and no one in the Government seems to know what to do to stop this.”

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