Unemployment assistance unveiled by ministers

17/12/2008

A new fund for unemployed people is to be set up by the government, with job losses currently on the rise.

Around £158 million is to be put aside for helping people who have been made redundant find new work.

People who have been out of work for a long time could also receive assistance.

The economic downturn caused by the credit crunch has squeezed many employers' profits and ability to secure loans - resulting in the rising job losses.

Skills secretary John Denham MP said: "Now more than ever, it's important we do what we can to help people who've been made redundant."

This comes in the wake of official unemployment figures, which showed that the jobless total in the UK has risen to 1.86 million, the highest in eight years.

Analysts had expected the total to rise to around two million - a barrier which seems likely to be breached in the next year.

Tags; Young Family Finances, Job loss, Recent Graduate Debt,

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