Unemployment 'will reach 10% of workforce'
Unemployment 'will reach 10% of workforce'
Friday 2nd January 2009
According to the business organisation, some ten per cent of the nation's workforce could become unemployed as struggling businesses continue to shed jobs in the midst of the recession.
David Kern, chief economist at the BCC, said that the UK's economic outlook had "worsened significantly" since the body's last set of predictions.
"We now predict bigger GDP declines, higher unemployment and larger government borrowing than envisaged in November," he commented.
Earlier this week, the Chartered Institute of Personnel and Development said that 600,000 people are likely to be made jobless in the UK during 2009.
A survey published by moneyexpert.co.uk in December found that 30 per cent of British workers believe they would struggle to avoid debt problems if they became unemployed.
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