Unemployment jumps to 1.92m

22/01/2009

New official unemployment figures have been released.

Around 1.92 million UK workers were found to be without a job in November, 6.1 per cent of the total.

This total is the highest since September 1997 and shows that the financial crisis and economic downturn are leading to cutbacks among firms.

Unemployment is also thought likely to get worse over the months to come, with businesses entering administration due to the crisis and laying off workers as a consequence.

Some analysts even expect the jobless rate to peak at over three million by 2010, as the recession continues to take its toll on the workforce.

Commenting on the new figures, Kate Green at charity the Child Poverty Action Group said: "Each week, thousands more families face redundancy as recession grips Britain.

"We've seen boardrooms bailed out and now the banks want more, but most financial crisis meetings are taking place around the kitchen table."

Tags; Young Family Finances, Job loss, Credit Card Lifestyle, Recent Graduate Debt,

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