Debt consolidation needs could rise among lower paid workers
Debt consolidation needs could rise among lower paid workers
Tuesday 8th September 2009
That is according to the Trades Union Congress (TUC), which today released a report indicating that it is the country's poorer paid employees that have been hardest hit by the recession.
As a result of the financial struggles incurred by those in the lower pay brackets, the number of people seeking debt consolidation advice in order to repay their loans could increase.
The worst hit jobs, according to figures from the Jobseekers Allowance Claims by Occupation, have been retail and sales assistants, goods handlers and storage workers.
In the past 12 months, an extra 76,230 sales and retail assistants have signed on to the dole. For goods handlers and storage workers, the figure has increased by 47,420 over the last year.
TUC general secretary Brendan Barber said: "These figures explode the myth that this is some kind of classless - or even middle-class - recession. It's the low skilled and the low-paid who are bearing the brunt of this recession.
"And with unemployment set to increase throughout the whole of next year, and possibly beyond, tackling joblessness must be government's number one priority."
He went on to say that the weekly allowance on the dole was not sufficient and should be increased by £10 in order to help people cope a little better.
For those people who have lost their job and are struggling to cope with debt repayments, seeking professional debt consolidation advice could allow for a more ordered system in repaying loans.
News article brought to you by Debt1 – The debt consolidation company
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