News
Unemployment in the UK to hit 3.2 million
06 March, 2009
Between October and December last year there were approximately 1.97 million unemployed people in the UK and just recently it has been forecast that the current UK’s unemployment situation will get worse before it gets better and may rise to about 3.2 million, 10% of the total workforce. It will likely bottom out by April when organizations begin to steady themselves in the recession.
At the beginning of the year the Government instituted several measurers to help small and medium-sized companies survive in the recession, among which was a plan to guarantee a loan of up to £20bn.
The CIPD (Chartered Institutue of Personnel Development) feels that the UK will follow a similar course to that of the US which is now seeing a slow-down in the reduction of jobs.