BBC News: Reports on the latest unemployment figures, over the last 3 months till July over eight thousand people have lost their jobs, thus the total out of work stands at 2.51 million, that a rate of 7.9%. Folks it is going to get a lot worse, the government cuts have just started, in the US, the unemployment rate is at 9.1% and is expected to stay that way through 2012, that around 14 million Americans out of work. But one should recall this is illusion folks, you have people who have part time jobs who want full time jobs, Graduates having to take non graduate jobs, you have people in their late 40s and 50s who have given up, its lot harder to get a job when your in your late 40s and 50s. Lets look at the austerity packages passed by Ireland, Italy, and Greece, the cutting of the public sector has lead to job losses, those thrown out of work have not found work in the private sector due to the fact that the economy it these countries has retracted thus no private sector hiring. It is a vicious path folks, Government cuts, less money in the economy, less products bough, less people hired. The debt mountain in the EU has to reduced, but the cost will hurt folks, it will be painful.
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