UK Unemployment Reached 2-Million Mark

Increasing unemployment rate is not an issue just with the US. There are many other countries where the unemployment and jobless rate is increasing rapidly.UK is one of these countries.

The unemployment in UK has surged to around two millions between September and November of 2008. The main reason behind this increased unemployment figures is nothing but the layoffs, which have surged due to the gloomy economy. Banks were also the main reason for forcing companies towards cost saving measures, with their strategies in pulling credit lines. And as you know when companies have to do a big set of cost saving measures they simply adopt layoffs.

Recently, Government has announced that it is going to help 500,000 of the country’s long-term jobless by spending around $747.7 million. This strategy was also reported to create 100,000 newer jobs in the nation’s public sector.

At present, the unemployment has increased to 2.8 million and is estimated to reach 3 million mark by the end of 2009.

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