Number of JSA claimants soars

According to recent figures the number of people that are now seeking Jobseeker’s Allowance has soared, going up to 1.64 million in January. This reflected an increase of 23,500. Read more

Tags: failure, jobseeker's allowance, unemployment, uk, Employment law, time, Bad news

Better future for economy following drop in unemployment

Recent figures showing that unemployment has finally fallen has brought with it hopes that the future of the economy is looking a little brighter. The figures showed that there was a significant drop in unemployment figures for the month of December. Many think that this will spell good news for both the jobs market and the economy as a whole. December saw unemployment levels fall for the first time in around two years according to reports.

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Tags: Late-2000s recession, Labor, Chris Grayling, jobless figures, economics, unemployment, month, global credit crisis

Record numbers having to take on part time work

Recent figures have shown that record numbers of people in the UK have had to take on part time work through the recession as a result of being unable to get any full time employment. Whilst the rising number of people taking on part time work has helped to bring unemployment figures down for many of these workers the hours that they are working are not bringing in adequate income to continue keeping on top of their bills, rent or mortgage, and financial commitments. Read more

Tags: unemployment, total, economics, part time work, Types of unemployment, record numbers, recessions, office

Over £27 billion worth of free overtime put in by workers

According to figures that have been released recently workers across the UK have put in more than £27 billion worth of free overtime in the past twelve months, amounting to a whopping £5400 per person. Workers across the UK were found to have worked for free to the tune of £27.4 billion, with many putting in the extra time in order to save their jobs during the recession. Read more

Tags: Employment law, Extra time, Overtime, Labour relations, unemployment

Warning over further job losses from Bank of England

The Bank of England has warned that the UK could be in line for another wave of job losses as a result of productivity falling faster than wages. The central bank claims that this could result in further job losses in the New Year, which would come as a huge blow given the many jobs that have already been lost during the recession. Read more

Tags: unemployment, job losses, bank of england, central bank claims, Confederation of British Industry, Labour, huge blow, number

The UK Reports High Rates of Unemployment

The numbers of people who are unemployed in the UK are the highest they have been in fourteen years according to the latest figures released by the Office of National Statistics. Read more

Tags: david blanchflower, jobless, sharp economic contraction, Glasgow, turbulent economic times, 17 years

Middle aged and near retired people feel effects of recession most

It has been claimed that the age groups that are most likely to feel the pinch from the ongoing recession in the UK are those that are in middle age and those that are nearing retirement age. Read more

Tags: PricewaterhouseCoopers, unemployment, analysis, recession, uk, economic slump, late, Labor economics

More job cuts at Lloyds TSB

Despite becoming what was described as a super-bank following its takeover of troubles banking group HBOS, Lloyds TSB has announced a fresh round of job cuts earlier this month, with the announcement that it would be closing all of its Cheltenham & Gloucester branches. Read more

Tags: lloyds, lloyds tsb, unrest, gloucester, job cuts

Unemployment rises at lower than expected rate

Recently released figures have shown that the level of unemployment rises have been lower than expected, adding to the variety of encouraging data that has been seen in a variety of recent report lately. Read more

Tags: unemployment levels, city forecaster ihs, recent report, unemployment, fresh school leavers, highest rate

Drivers making cutbacks to afford petrol

It has been reported that many drivers in the UK are being forced to make cutbacks in other areas in order to pay for petrol costs. Read more

Tags: driver cutbacks, research, saving fuel, unemployment, driver savings

Refuse jobs attracting applications in the hundreds

With unemployment levels rising in the UK, and many people finding themselves with a sudden loss of income in what has become a very difficult financial climate, it has been reported that even the most menial of positions are now attracting job applications in the hundreds from desperate people that will take any job in order to get an income. One job for a binman recently attracted nearly two hundred and forty applications from unemployed people desperate to start earning money again. Read more

Tags: job losses, earning money, time, desperate people, Labour

Rising number of Brits could head to New Zealand

Whilst many Brits may have jetted off to New Zealand for a long vacation to enjoy the beauty, natural surroundings, and sights, it has been revealed that many have made their minds up to go there and not bother coming back. Read more

Tags: super tax, official, unemployment, new zealand, 50p personal tax

Jobless could exceed two million next month

Officials have recently reported that the number of jobless people in the UK could break through the two million barrier when figures are released in February, with figures for the latter part of last year showing that the spate of redundancies in the various sectors had already pushed unemployment levels up to 1.92 million. With a rise of 131,000 unemployed in the latter part of 2008 the figure soared to the highest number of jobless in over ten years. Read more

Tags: stability, light at the end of the tunnel, unemployment, unemployment rate, recessions, recession, uk jobs, pensions secretary theresa

Increase in jobless figures

According to a recent report there was in increase in the number of jobless people in the UK towards the end of last year, and the rise in the number of unemployed is expected to continue this year. Read more

Tags: jobless people, unemployment, increase, Labor, variety, claim

How safe is your job?

Many of us thought that 2008 was a rocky year, but there is a lot of evidence pointing to the fact that this year could be even more turbulent, not least because of the number of jobs losses that are expected. Read more

Tags: number, property sales, unemployment, global credit crunch, job losses, year, official, Economic history

Consumer to cut back further over this year

The sales that have been on both before and since the Christmas period have seen many people flock to the shops in the hope of picking up bargains for the home or as gifts. Read more

Tags: Business cycle, hope, january sales, household budgets, unemployment

100,000 a month could lose their jobs

Over recent weeks there has been rising concern over unemployment levels in the UK, with the recession and the current financial climate already have seen many jobs lost or threatened. Read more

Tags: 100, hundreds of thousands, April, unemployment, colleagues, job losses

Barclays makes prediction on house prices and unemployment

The chief executive of the Barclays Group, John Varley, has recently spoken out about his predictions for both house price movement and unemployment in the UK over the course of this year.

There have been a number of predictions made by a variety of industry groups and professionals with regards to how quickly and by how much house prices will fall, as well as with regards to how fast and aggressively unemployment levels will rise.

Varley stated recently that over the course of this year he expected house prices to slide by around 10-15 percent, with Barclays having predicted a total slide of between 25-30 percent between 2007 and 2009.

He stated: “We’re probably about halfway through that period, so in other words we’ve got another 10-15 percent to fall between now and the end of next year.”

He also said that he expected unemployment levels to rise by over 7 percent over the course of this year.

With regards to unemployment levels he stated: “I think an additional 700,000 people unemployed over the course of the next 12 months is certainly possible to contemplate.”

He said that banks, central banks, and the government were partly to blame for the recession and the financial problems being experienced in the UK.

He also said that Barclays had refused a government bailout because it wanted to remain independent so that its growth overseas would not be marred, stating: “If British taxpayers’ money is going to be deployed in a bank as a result of the government owning shares in that bank, then a big part of the agenda of that bank and a lot of that incremental capital has to be directed at the UK. Our UK business is extremely important to us, but we employ more people outside the UK than inside the UK, we have more customers outside the UK than inside the UK, and it’s very important to me that that agenda of growth outside the UK is unimpaired.”

Tags: unemployment, group, Barclays Group, Business Finance, Central bank, house

Unions angry over insurance job cuts

Officials from unions have been angered by a decision by insurance giant Aviva to cut eighteen hundred jobs around the country. Just two years ago the company moved part of its operation to India, and ended up cutting around four thousand people from the workforce. This latest announcement has further angered union officials. Officials from Aviva say that the move is designed to improve service and cut costs, but this has not impressed unions. Read more

Tags: union officials, aviva, Insurance, number, unemployment, economics, Product Issues, job cuts

Unemployment levels could rise due to housing slump

The housing slump in the UK has been making the headlines on a regular basis over recent months, with house prices already having tumbled and with predictions that they will fall further over the coming months. This in itself has put potential buyers off because many are worried that house prices will continue to fall once they have purchased a property, and that they could then be left facing negative equity. Read more

Tags: onset, gas bills, cannot, estate agents, unemployment, rocket record deposits, official, decorators

Long-term fixed rate mortgages risky because of life uncertainty

Buyers tempted to take out a long-term fixed rate mortgage after chancellor Alistair Darling indicated in this week’s budget that action might be taken in future to promote them should be on their guard.

A number of experts have warned that the certainty that Mr Darling pointed to as the benefit of opting for a mortgage with the interest rate fixed for ten years or more is precisely what is missing.

“Uncertainty is the key deterrent,” Andrew Haggar of Moneyfacts told the Daily Telegraph, pointing to the unpredictability of life circumstances over such a long period of time.

“While borrowers can insure against unemployment and illness, people are still wary of tying themselves to a fixed rate for an extended period of time.”

Nici Audhlam-Gardiner, director of mortgages at Abbey, agreed.

“So much can happen in a quarter of a century, both to a customer’s circumstances and to the economy. While these very long term deals may be suitable to provide long-term stability for a small number of customers – they will not be suitable for all,” she said.

Tags: extended period, interest rate, Telegraph, long period, unemployment, deterrent, Business Finance, budget