Unemployment Up; Bankruptcies Up; Executive Stays Down

More depressing news on the economic front. 1,100 more people claiming unemployment benefit, with the total of 30,300 at a four year high. The number of businesses wound up – i.e. businesses forced to close to sell their assets to satisfy creditors – has increased by a third. The CAB’s caseload of live debts has jumped by 3 million, with a shift from personal credit to mortgages and secured loans putting people’s homes at risk. Clearly the situation is getting worse. But fear not. According to Enterprise Minister Arlene Foster, “Overall, the number of people claiming unemployment benefits is still relatively low in historical terms and we are not alone in feeling the effects of the downturn in the global economy”. That’s ok then. No need for you and the other sectarian politicians in the Executive to actually do your jobs then.

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6 Responses to “Unemployment Up; Bankruptcies Up; Executive Stays Down”

  1. Matthew Says:

    A few job sites seem appropriate right about now –

    http://www.linkedin.com (professional networking)
    http://www.indeed.com (aggregated listings)
    http://www.realmatch.com (matches jobs based on your skills)

    Good look to those looking for work!

  2. Garibaldy Says:

    Thanks for that Matthew.

  3. WorldbyStorm Says:

    What is that in percentage terms?

  4. Garibaldy Says:

    Seasonally-adjusted, 4,1% according to this press release from the Executive

    http://www.northernireland.gov.uk/news/news-deti-121108-northern-ireland-unemployment

    Of course, this does not include the large numbers of claimants of disability living allowance (of which NI has the highest rate in the UK by quite some distance) and various other methods of hiding unemployment such as training schemes for the long-term unemployed.

  5. WorldbyStorm Says:

    4.1%… I was just looking it up and see that Beveridge said that 3% was full employment. Not awful by a long margin in global terms, but awful for those going through it.

  6. Garibaldy Says:

    That’s true. But then you have to add in the hidden unemployed, who are tens of thousands more I believe.

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