UK jobless 'to reach 3.4 million'

IveSeenTheLight

Unemployment will soar to 3.4 million as the financial crisis deepens, forecasters predict ahead of official jobless figures this week. The Ernst & Young Item Club says the number of those out of work in the UK will pass 3.25 million by the end of 2010, and hit 3.4 million in 2011.

http://news.bbc.co.uk/2/hi/business/7836489.stm

Generali

IveSeenTheLight wrote: »

Unemployment will soar to 3.4 million as the financial crisis deepens, forecasters predict ahead of official jobless figures this week. The Ernst & Young Item Club says the number of those out of work in the UK will pass 3.25 million by the end of 2010, and hit 3.4 million in 2011.

http://news.bbc.co.uk/2/hi/business/7836489.stm

To reiterate an earlier comment I made, the ITEM Club uses the same economic model as the Treasury so the numbers that they have will be much the same as those that the UK Government is using.

Given the rise in those on sickness benefit too, the number of people who are going to become (to use the jargon), 'economically inactive' is set to rise dramatically.

Bank bailouts have been pretty popular with voters so far. It'll be interesting to see if they remain popular when voters realise that they're not going to get a similar bailout for their family.