Debt help could be needed by underemployed

19/02/2010

Debt management
may be needed by millions as the recession has forced people out of their full-time jobs and in to part-time employment.

John Philpott, chief economic advisor for the Chartered Institute of Personnel and Development (CIPD), has said that many people will find their standard of living affected if they are forced to remain in part-time employment year after year.

His comment follows the latest employment statistics from the Office for National Statistics (ONS) which found that underemployment rose by 800,000 between 2007 and 2009.

These figures show the real effects of the recession on the UK with a total of 2.8 million underemployed people facing financial difficulties.

This is in addition to the 2.46 million who are unemployed.

Dr Philpott said that the ONS figures were "somewhat disappointing" and highlighted the fact that, despite a small fall in the number of unemployed people, there was a large drop in the number of people who are in work.

This indicates a decline in the number of people in the labour market which could lead to financial problems in the future if many people are forced to remain out of work.

Posted by Jim Mead

Tags; Job loss,

• Share
• 
• 
• Store
• 
• Follow
•