Unemployment levels rise close to 2 million
February 23, 2009 | 1 Comment
The U.K unemployment figures reached 1.97 million this week. This came as a bit of a surprise for many who believed it would pass the 2 million mark. They are still, however, the highest unemployment levels since labour came to power in 1997.
The scary thing is that business bosses predict that unemployment will top the 3 million figure by the time this financial crisis and recession are over. Experts have been describing the current employment and business situation as a depression this week.
Even major cash and carry stores such as Makro have closed stores this week. When places geared towards saving money for their customers are closing down you just know that there is trouble afoot is they are not making enough sales.
Meanwhile, job vacancies have fallen by 75,000 to just over 500,000 making the coming months very bleak indeed.
