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Unemployment rises to 2.1 million people

Unemployment has risen to 2.1 million people, 6.7% of the UK working population.

The number of unemployed people increased by 177,000 over the quarter and by 486,000 over the year.

The unemployment level and rate have not been higher since 1997.

The number of people claiming unemployment benefit was 1.46 million in March 2009. It is up 73,700 over the previous month and up 672,100 over the year. The claimant count has not been higher since September 1997.

The redundancies level for the three months to February 2009 was 270,000, up 45,000 over the quarter and up 162,000 over the year. This is the highest figure since comparable records began in 1995.


Uncertain about auctions

I’m still making my mind up about the US auction house that has graced our shores in the past month. Real Estate Disposition Corporation – usually known as REDC – specialises in repossessed properties. Nothing wrong with that but rather than sellers, i.e. lenders, being charged the average 2% to 3% UK fee, buyers pay 10% of the purchase price to REDC. And that’s the bit I’m not sure about.

Worst of recession over, says CBI

The UK recession was more extreme than expected in the first three months of 2009, but the Confederation of British Industry says the worst is behind us.

A funny old year

The past 12 months have been turbulent – just take a look at this chart of the FTSE 100 over the last year. There have been some points which I’m sure would have caused your clients some concern, and possibly even had them looking for an alternative investment with reduced volatility; perhaps without reducing their […]


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