Secretarial Jobs Board

Unemployment could reach 8% by 2010

25/06/2008

The unemployment rate could reach eight per cent by 2010, according to new research.

A study by consultancy, Capital Economics, has claimed 44,000 jobs could be lost because of the global credit crunch, it has been reported.

The study warned if the UK went into recession, unemployment could reach levels not seen since the early 90's.

Vicky Redwood, UK economist, Capital Economics, also noted that despite economic difficulties, consumers have continued spending.

If spending continued it would "increase the chances of a much sharper pick up in inflation then the one we are already looking at".

She predicted it would reach 4.5 per cent but cautioned without spending curbs, "we'd be looking at it rising more sharply than that".

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