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Is the UK recession over as unemployment starts to slow?

As the rate of unemployment in the UK begins to slow there is a feeling that maybe the recession is over and the UK economy may well be returning back to boom times. This comes at a time when many analysts are now forecasting a more difficult year in 2010 than 2009 with the suggestion that a liquidity squeeze in the consumer, business and property markets will have a dramatic effect.

Despite the fact that there was good news on the unemployment front today there are still many out there who believe unemployment will top 3 million in the short to medium term and could push on further. The higher the rate of unemployment goes the more pressure this places on the benefit system which will impact upon the government budget. When you consider that the government budget will be in deficit to the tune of £175 billion this year alone this does not bode well for the future.

It will be interesting to see how the budget deficit is handled over the coming years as more and more people believe that the figure of £175 billion this year could well be short of the mark.

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