Saturday, January 24, 2009

2 Million Unemployed in UK

Unemployment rates have touched a record high in UK with about 2 million people reported unemployed according to statistics. The jump in the unemployment rate is the biggest quarter on quarter since the last recession in UK in 1991. The rate of unemployment rose to above 6% in 2008 November compared to 5.2% in 2007 November.

The rise in unemployment continued before the collapse of Lehmann Brothers and the economic downturn that followed indicating that there could be more bad news. Currently there seems to a high number of skilled unemployed workers and job redundancies figures of nearly 225,000 in the last three months.

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