Unemployment and Economic Turmoil
Families and any single individual are suffering much with the increasing cost of food and other products in the market. It is the number one problem which is experience in several parts of the world. Many countries suffer with economic disaster due to high pricing in the global market. A lot of countries especially those who had not stand back yet from economic failure had sunk down. These had made any existing individual dire out with financial hitches. UK had faces its two weakest years from recession. Economy slowly grows which is expected only to have 1.1 percent growth by the next year as predicted by the International Monetary Fund. Much with economic problems, according to the Office for National Statistics, unemployment has hit 1.62 million with the latest number of people. Well, UK’s economic downturn has made a lot of businesses to turn down and makes a lot of individual lose their jobs. Loosing a job could be the most dreadful experience that an individual could experience specially those having families. From the Labor Force Survey (LFS) of employment, there were 4.29 million of working-age people who live in workless household. It is 11.4 percent from the working-age population. But then, David Blanchflower who was a member of the monetary policy of the Bank of England, predicted that employment will rise to 2 million by December. House prices will also fall to 30% as he had predicted. With this hope, families suffering from economic downfall and unemployment could route out from poverty.
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