Unemployment Likely To Rise In UK

09 July 2012 17:00 - Lucy Williams

    



Unemployment Likely To Rise In UK

A bleak second half of the year is expected as confidence takes a dive on investing stockpiles of funds. It has been reported that companies are holding back billions of pounds from the economy due to a lack of confidence and a sense of uncertainty, and a recent decline in staff placements has created the possibility of the UK unemployment rate rising once more.

There is much worry over the prospect of the UK reaching a three million unemployment figure which is very possible as companies continue to stockpile their funds directly affecting the economy and its recovery. The UK has experienced five months of consecutive growth suggesting recovery and a strengthening economy however this most recent news highlights that the UK is still far from recovery and remains in a fragile situation.

A recent survey showed that confidence levels in businesses were at their lowest point last month. According to finance directors the likelihood of the double-dip recession continuing throughout the year is probable as a result of uncertainty across business and financial markets. The blame for such lack of confidence has also been put down to the fragile state of the eurozone. It has been predicted that by the end of this year one or more countries will have left the eurozone.

As a result of the current uncertain economic situation risks are being avoided.  It is because of this that the UK economy is losing out on billions of pounds and unemployment across the country is likely to rise.

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