Subscribe Feed (RSS)Jobless to top 3million in a year fears City
December 17th, 2008 by admin | Filed under Daily News, Recession, UK Banks.The number of jobless claiming the dole could hit three million in the next 12 months, fear City analysts as the latest job statistics are revealed.
The number of people claiming unemployment benefit has already topped a million for the first time in eight years after a big rise in the jobless total as the recession squeezes the pips out of the UK economy.
Every sector is under siege – with the largest number of job losses coming from the retail, construction, banking and motor industries
The claimant count jumped by 75,700 in November, the biggest monthly increase since the spring of 1991, taking the total to 1.07 million.
The overall number of unemployed people rose by 137,000 between August and October to 1.86 million.
That is the highest figure for more than a decade, according to the Office for National Statistics.
The grim figures were compounded by a big fall in job vacancies.
These fell by 49,000 in the last three months to 562,000, the joint lowest on record.
Business secretary Lord Mandelson’s decision to sell off parts of the Royal Mail could add another 50,000 to this total as 71 mail centres close.
Foreign firms are queuing to slice up the Royal Mail on the news that Lord Mandelson has drafted a £3 billion plan to part-privatise the service.
Under a shake-up, at least a third of the company would be sold to a private firm. Dutch-owned TNT and German-owned DHL are both circling like vultures ready to swoop on the carcass..
The Business Secretary says he will stick by Labour’s manifesto commitment not to privatise Royal Mail in this Parliament; today published a report recommending a partial sell-off.
The independent-study by Richard Hooper, a former deputy chairman of Ofcom, calls for an overhaul of the firm, which faces a multi-billion pound pension deficit.
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