Unemployment has now risen to 2.38 million in the last three months, the Office for National Statistics reported. Unemployment figures do not indicate the depth of the recession or when we are nearing the end. Businesses are still fighting for their survival and they continue to cut jobs as a way of saving money in order to reduce their operating costs will they search for orders. Many experts believe that unemployment will continue rising for the remainder of this year.
Tougher employment times are expected for small and medium sized business. Business failures are expected to rise by a staggering 50% which means that failed businesses could peak around 32,400 in 2010; this would be the highest level recorded since 1992. The Federation of small businesses said that they had recorded a dramatic increase of 214% in the amount of calls to their legal advice line on redundancies from concerned small businesses in the fourth quarter of last year.
The BBC recently commissioned a survey of 1048 by ComRes; it suggested two-thirds of people in the UK now knew someone who has lost a job due to the recession. They also found that 34% of the people surveyed thought the recession was worsening and 52% felt that the economy was not likely to improve for a while. Whilst 12% were of the opinion that things were improving. The report further suggests that most people actually believe that the worst of this recession is over now.
I wonder how the 2.38 million people are really coping. Are they re-training; applying for hundreds of jobs and not getting many replies and when they do get a reply do they say sorry …. we wish you lots of luck in your search for work or are they falling further into a spiral of debt and tittering on the edge of having their homes repossessed or are they just surviving?
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