May 11 2009
Mexican swine flu and rising unemployment - is it time for panic?
Unemployment in Britain will continue to rise for at least another three years, according to a leading economic consultancy, as official figures out on Wednesday are expected to show another large jump in the number of jobless. Akin to the Mexican swine flu outbreak the rise in unemployment seems pandemic at best - however it is also wise to draw similarities between the media sensationalism and illogical fears that both the unemployment crisis, and the Mexican swine flu outbreak, have encouraged.
At its latest economic forum, attended by several former members of the Bank of England’s monetary policy committee, Fathom predicted that unemployment on the International Labour Organisation (ILO) measure, which includes those seeking work but not claiming benefits, would peak at 4 million in 2012. However, some economists fear the picture could be even worse. Official figures out on Wednesday are expected to show that unemployment on this measure rose to 2.17 million. The number of people out of work and claiming benefits is forecast to have climbed by 80,000 last month to 1.54 million.
TUC general secretary Brendan Barber said: “Next week’s unemployment figures will be grim reading. Unemployment is rising at a faster rate and is set to hit 2.5 million as early as June.” He called for urgent action from the government to boost employment. “The government can play a pivotal role in tackling unemployment. But focusing on public spending cuts simply means further mass job losses. The government must re-focus on sustaining and creating new jobs in order to get our economy moving again.”
Howard Archer, chief European and UK economist at IHS Global Insight, said: “Despite some recent signs that the rate of economic decline is moderating, unemployment is a lagging indicator and the extended deep economic contraction seen since mid-2008 is continuing to hit the jobs market hard.”
Even though this news is very unsettling and hard times will be getting harder for some - it’s important to note that panic and disorder is a counterproductive state for nations worldwide and their economies. As authorities have been urging calm and methodical preventative measures in dealing with the Mexican swine flu outbreak - so is it important to note that the unemployment outbreak is also something one can take in stride. Come to employersjobs.com for example and begin a personal branding profile as a top notch candidate available in your sector for employment - and apply to as many jobs as possible. This is one way to ensure you’re not left out in the cold when the unemployment figures begin rolling in.
