Qualified advisers answering your
Financial Questions
call 0800 092 1245

Disappointing employment figures which will get worse

The UK government today confirmed that unemployment in the country has risen to 2.26 million with a significant number of young people now out of work. While these figures are the worst for 10 years the number is expected to rise even further with some suggesting over 3 million will be unemployed at the peak, a time expected to be around mid 2010. So what is going on?

We are seeing significant job cuts on a regular basis in the UK but the fact that more and more young people are out of work is a major concern to the government. We have the potential to create a new generation of youngsters who will be brought up on benefits and find difficulty in obtaining employment. This has the potential to mushroom out of control and disenfranchise young workers from the workplace at a very early age.

Even though we are seeing signs that the UK economy is starting to stabilise there is no doubt that unemployment will continue to rise for some time yet. Many companies have been forced to jettison significant numbers of staff but a number are rumoured to be using the downturn as an excuse to reduce their staffing costs. Tough times are ahead in the UK workplace!

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details