UK unemployment set to keep on rising warns research

Unemployment in most parts of the UK is likely to continue to rise over the next five years, according to an economic forecasting group.UK unemployment set to keep on rising warns researchThe Centre for Economics and Business Research (CEBR) says the overall jobless rate could hit 10.7% by 2016, the highest for more than a decade.

And it says it could ultimately rise to levels not seen since the early 1990s.

UK unemployment fell by 35,000 to 2.65m between last December and February.

Five more years of pain are expected for much of the UK, with unemployment continuing to rise in almost every region.

The report suggests the jobs market in London, the South East and East of England will remain “relatively buoyant”.  That is down in part to a stronger private sector – which is more able to make up for losses in the public sector.

Rob Harbron, one of the report’s authors, said “The outlook is tough for UK households, particularly those in places with a high dependency on public sector employment. Family budgets are being squeezed between the pressures of rising unemployment, low earnings growth and stubbornly high inflation.”

Experts predict unemployment is expected to rise again with local authorities and other public sector bodies shedding jobs to cut costs.

The union Unison said 625 public sector jobs had been axed every day since the general election in May 2010.
Minister for Employment Chris Grayling said the government was “focusing on stabilising public finance, supporting economic growth and helping the unemployed”.

“Every major international economic body says we are doing the right thing,” he added.  “We are determined to restore growth and get unemployment falling again.”

July 5, 2012 · Home Based Jobs · Comments Closed
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