FINANCIAL CRISIS UNEMPLOYMENT
UK - For UK, the jobs market has crumbled to its lowest in over two years in November.
The economy crisis was emphasised with a poll that showed seven out of 10 Britons anticipating this Christmas to be finically tougher than the last, according to Dow Jones.
The number of people who got in permanent jobs from recruitment agencies has also fallen at its fastest rate since July 2009, according to a separate survey by the recruitment and employment services group KPMG.
"This month's report on jobs makes grim reading," Bernard Brown, partner and head of business services at KPMG, said. "Given the uncertainties of the European market, the government's recent stimulus package could not have come sooner, as unemployment creeps ever higher."
The number of vacant positions is also at its slowest since the last 25 months. Latest official figures showed that 2.6 million Britons were unemployed in October, the highest since 1994.
Businesses had to retrench more staff due to low consumer spending, and furthermore, within five years, the government is anticipated to axe about 700,000 jobs.
As businesses struggle in encouraging consumers to spend, shop inflation has been pushed down due to price wars and discounts.
"Inflationary pressures are easing," Stephen Robertson, BRC director general, said. "Cheaper commodities will help retailers keep prices down."
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