Job loss concerns as unemployment spikes once more

13/05/2009

Unemployment continues to rise, government stats have confirmed.

According to the official figures, the jobless total stood at 2.22 million, up from 2.1 million the previous month.

This is the highest unemployment in well over a decade - and is equivalent to 7.1 per cent of the working population.

The credit crunch and recession has led to many firms looking to cut costs by freezing wages and reducing headcounts.

Some big companies, including Woolworths and Zavvi, have gone under in the downturn, boosting the job loss total.

Ian Williams, director of communications at financial website moneysupermarket.com, said: "Job security is of paramount importance but at a time when this is a luxury, it is important to think about your options.

He added: "It is important to review your financial commitments to ensure you're able to cover all your monthly expenses should the worst happen."

Tags; Job loss, Credit Card Lifestyle, Recent Graduate Debt,

• Share
• 
• 
• Store
• 
• Follow
•