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Spectator.co.uk (blog)Money digest: today's need-to-know financial newsSpectator.co.uk (blog)If you're a parent then today's housing news may come as little surprise: the 'bank of mum and dad' is now the equivalent of a top ten mortgage lender in the UK. Research by Legal & General and the Centre for Economics and Business Research has found ...
Irish TimesHow to generate an income in retirementIrish Times“It's probably in the top three financial decisions a client will have to make in their lifetime – whether to use their pension funds to purchase an annuity or invest in an ARF/AMRF [approved retirement fund],” notes Barry Mooney of Bellwether ...
BBC NewsThe Bank of Mum and Dad is huge, but not enough to solve housing crisisTelegraph.co.ukMoney supplied for house purchases by family members now amounts to £5bn annually: the average parental contribution towards a deposit is now £17,500, and these funds in turn underpin property purchases worth £77bn. ... The way we “do” mortgages in the ...'Bank of Mum and Dad' lends £5 BILLION a yearMirror.co.uk'Bank of mum and dad' lends £5bn a year in UK, says L&GBBC Newsall 15 news articles »
BBC NewsBank of Mum and Dad props up UK housing marketTelegraph.co.ukBritish parents and grandparents are giving their offspring £5bn a year to help them get a foot on the property ladder, making them the equivalent of the 10th biggest mortgage lender in the country. Borrowing from family and friends to help fund ...'Bank of mum and dad' lends £5bn a year in UK, says L&GBBC Newsall 5 news articles »
BBC NewsBank of Mum and Dad is huge, but not enough to solve housing crisisTelegraph.co.ukMoney supplied for house purchases by family members now amounts to £5bn annually: the average parental contribution towards a deposit is now £17,500, and these funds in turn underpin property purchases worth £77bn. ... The way we “do” mortgages in the ...'Bank of mum and dad' lends £5bn a year in UK, says L&GBBC Newsall 6 news articles »
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2.38 million unemployed and rising.

A record 281,000 people were added to the growing list of unemployed in the three months to May.15-07-2009
It’s the biggest increase in unemployment in a three month period since records began in 1971. The figures from the Office for National Statistics show that 2.38 million are now out of work - 7.6% of the workforce and the highest since the end of 1995.
Young people between 16 and 24 are particularly badly hit. 726,000 are out of work and that’s the highest figure for 16 years.  
The number of people out of work for more than a year rose by 46,000 to 528,000, the highest for 11 years and that includes about 133,000 young people.
The only glimmer of good news is that the number of people claiming unemployment benefit was less than expected. 220,000 more claimed in the three months to May and 23,800 more claimed in June bringing the total to 1.56 million. But most analysts and forecasters still expect unemployment t6o rise to 3.2 million before it starts going down again. And not only is unemployment rising but the number of job vacancies is falling. There were 429,000 in the three months to June, down by 35,000 from the previous quarter.

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