Thursday, March 19, 2009
Why rising unemployment is bad news for us all
"Britain's dole queues grew at the fastest pace since records began, taking the headline total to over two million for the first time in 12 years. That's terrible for those who've just lost their jobs of course. But bad news for everyone else too. It means less money being spent in the shops, more forced house sales and another surge in benefit costs. So that means even greater government borrowing, or even larger tax rises ahead. Or both..."