Sunday, Mar 15, 2009
Mass Unemployment
The guardian: Job centre crisis as ten bid for each vacancy
Startling new figures have revealed that on average there are 10 jobseekers for every vacancy advertised in the UK. In one area of the south-east, 60 workers are available for each job.
This week, as unemployment is expected to burst through the 2 million barrier, The Observer can reveal that the spectre of mass unemployment is forcing the government to reinforce job centres, with civil servants diverted from child maintenance and disability claims.
Posted by sold out @ 11:20 AM (668 views) Add Comment
3 Comments
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1. sold out said...
As job losses mount across the economy, analysts are becoming increasingly worried that mass unemployment will exacerbate the downturn in consumer spending and the housing crash, and create a vicious circle.
"Looking ahead, the pressing concern now is whether the rise in unemployment will become self-sustaining by creating a negative feedback loop between demand and unemployment. While we are perhaps not in this territory yet, this is a clear medium-term risk for the economy," said Jonathan Loynes, of consultancy Capital Economics
2. paul said...
Crisi of the Commons - this is where markets really fail badly.
What's good for the individual company is very bad for the economy as a whole - the more people you fire the less able they are to afford your products.
3. Saywhat said...
Pooooffff... like magic jobs where plenty.. now you see them now you don't.... at the rate it going, the UK will soon become like former eastern europe countries...