Qualified advisers answering your
Financial Questions
call 0800 092 1245

Has unemployment peaked?

Over the last few months there has been much concern over the UK unemployment figures although of late there would appear to be an easing in the rise in unemployment. Figures due fairly shortly are set to confirm that unemployment in the UK has reached 2.5 million although the relatively slow rate of increase has surprised many analysts. So what is happening?

While the headline figure of 2.5 million unemployed in the UK is alarming in itself, it is nowhere near the 3 million peak which had been forecast only a few months ago. Whether we are actually at the top of the unemployment market is open to debate but it does seem as though we are not a million miles away and we could actually see unemployment start to fall in 2010. However, underneath the surface there is growing concern at the large increase in unemployment amongst the youth of the UK which has the potential to create another "benefits society" of the future.

The Labour government's tenure in office has been the subject of various allegations regarding a new "benefits society" in the UK with more people than ever before claiming state benefits. There has also been a massive increase in the number of people employed by the public sector which many believe has also distorted the underlying employment and unemployment figures in the UK. Let us hope that there is some good news on the unemployment front in the short term.

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