10m out of work
Posted by Jamie at 8 23 PM on Saturday, August 22
A MASSIVE 10million working age Brits don’t have a job, a shock new study reveals today.
Official figures which last week showed unemployment has reached 2.4m — its highest since 1995 — are just the tip of the iceberg.
There is another HIDDEN ARMY of 7.9m Brits of working age who aren’t in employment, taking the number of jobless to almost 10.4m.
That’s more than A THIRD of the 28.9m total actually in work.
The study comes as a raft of gloomy new data reveals Britain is worse off than almost every other major economy as nations pull out of the recession.
Our real unemployment picture is as bad as the early 1980s and experts predict by next year it will be even worse.
Our legions of unemployed are boosted by 7.9m “economically inactive” people, according to the Office for National Statistics.
That includes people who want a job but have not been seeking work for the last four weeks, as well as those who don’t want to work.
Also unlisted in unemployment stats are anyone on Incapacity Benefit, those who retire early, stay-at-home mums, students over 16 — and people who have lost their job but are forced to live off redundancy pay-offs or savings because they don’t qualify for dole.
This grim toll will grow even worse because the jobless tally lags behind the wider economy. Report author Charlies Elphicke, of the Centre for Policy Studies, said: “ A massive 10m people of working age have no job. Single mums and youngsters are very hard hit.
“It’s already as bad as in the 80s and will get even worse.”
There’s yet more gloomy news for Britain. Although Germany, France and Japan have come out of recession already, the latest data shows we are lagging far behind.
In the second quarter of this year our economy SHRANK faster than anywhere else in the developed world. And our national DEBT is rising faster.
The respected International Monetary Fund says the UK economy is expected to shrink by 4.2 per cent this year — nearly twice America’s level. Household wealth here has also fallen more than in other countries — by a massive 25 per cent.
Shadow Chancellor George Osborne said: “These figures are even worse than first thought. The taxpayer has been landed with a massive debt but with little to show for it.”