thedebtblog.co.uk

I sometimes feel that this blog is always ‘doom and gloom’ but then again how can debt be anything but gloomy? There isn’t a lot to get excited about when it comes to debts - apart from getting rid of them!

An additional 81,000 people became unemployed between may and July this year taking the official unemployment rate up to 5.5 per cent which means that 1.72 million people in the UK are now unemployed.

These are all more bad signs of an economic slowdown as more people loose their jobs and job vacancies fall at the same time…

The TUC’s General Secretary Brendan Barber said; “Today’s figures show that unemployment is starting to accelerate and it now looks very likely that total unemployment will reach two million during 2009.”

“It is clear that deflation is a much more pressing threat than inflation, and interest rates should be cut,”

This is the highest level of unemployment in the UK since early 1999 and industry experts are warning that falling employment and vacancies will only lead to further unemployment over the months ahead as the demand for labour weakens…