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Debt management could soar as joblessness hits 2.47m

Debt management could soar as joblessness hits 2.47m

- Friday, 18 September 2009

UK unemployment has reached its highest level in 14 years, recent figures have revealed.

According to data released by the Office for National Statistics (ONS) earlier this week (September 16th), Britain's jobless total has reached 2.47 million.

People who are struggling financially as a result of losing their job could consider speaking to a debt management specialist.

The ONS figures show that the unemployment rate now stands at 7.9 per cent following an increase of 210,000 in the three months to July.

Speaking to the BBC, Work and Pensions Secretary Yvette Cooper made a particular case of the plight of Britain's youth.

She said: "Young people are always more heavily affected by recession because it's the easiest thing for employers to do, to put back recruitment for a year."

Ms Cooper went on to say that is was as a result of the younger generation's vulnerability that the government was investing heavily in the demographic.
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