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Britain looks all set to enter Recession!

By: xtraspark send a private message
London : United Kingdom | 12 months ago  
4 4
Views: 1,706
  • Britain Looks all set to enter Recession!
    Britain Looks all set to enter Recession!
    Posted by: killershark
    Britain Looks all set to enter Recession!
  • Britain Looks all set to enter Recession!
    Britain Looks all set to enter Recession!
    Posted by: killershark
    Britain Looks all set to enter Recession!
Britain Looks all set to enter Recession!

The total number out of work has climbed to 1.825 million - the most since November 1997, according to figures released by the Office for National Statistics. The number of unemployed people rose by 140,000 in the three months to September, leaving the unemployment rate up 0.4 per cent to 5.8 per cent.

The figures come as another sign of the deterioration of the British economy amid the global financial crisis. They were announced a day after a round of 5,000 job cuts by several household names, including Virgin Media and Yell. Last month's figures, for the three months to August, saw the unemployment total rise by 164,000 - the biggest increase for 17 years. Economists believe it will continue to rise as Britain looks set to enter a recession.

The ONS figures are based on the International Labour Organisation definition of unemployment, which includes both those claiming out-of-work benefit and those who are not, despite being unemployed.

News Stories
 >
  • News Source: Times Online | 11 months ago
    On a grim day for British jobs, the struggling Royal Bank of Scotland said yesterday that it was preparing to make 1,000 redundancies while the global bank Citigroup began to hand out P45s in London. Yesterday’s latest spate of big cuts brings the...
  • News Source: The Independent | 11 months ago
    Europe's biggest economy - officially went into recession yesterday, and Italy followed today. But France narrowly avoided falling into recession after its economy unexpectedly grew by 0.1 per cent in the third quarter following a contraction in the...
  • News Source: Miami Herald | 11 months ago
    Royal Bank of Scotland will cut around 3,000 jobs worldwide over the next several weeks, according to British media reports. RBS, which is raising as much as 20 billion pounds ($29.6 billion) from the British government to survive the financial...
  • News Source: Times Online | 11 months ago
    Taken in isolation, BT’s job cull is alarming. But factor in the 4,200 British jobs axed earlier this week by household names such as Virgin Media and GlaxoSmithKline, add the 1,000 job cuts announced by ITV, tot up redundancies at Vodafone and...
Blogs
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  • Blog Source: okuyankampus.net
    Unemployment is becoming more widespread as the recession starts to bite. The claimant count - the number of unemployed eligible for benefits - has been rising strongly for the past eight months and stood at 940000 in September. ...
  • Blog Source: perspicacious.co.uk
    Another big rise in UK unemployment is expected in official figures out later. The jobless total is expected to pass 1.8 million, reaching its highest level since 1998. The total was 1.79 million in the last figures up to August. ...
  • Blog Source: jonjayray.wordpress.com
    Employers seeking to hire a migrant worker who is not on the government’s list of shortage occupations must meet the so- called resident labor market test. They must show that no suitably qualified settled worker can fill the job by ...
  • Blog Source: www.timesoftheinternet.com
    Britain's unemployment rate jumped to an 11-year high point of 5.8 percent in the three months to September, the highest level since 1997, official data showed on Wednesday. Under the International Labour Organization (ILO) measure of ...
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