The total of people out of work in the UK is now close to 2 million and rising steeply; the Bank of England warns that the recession is likely to be longer and deeper than previously anticipated, and that no matter what actions the government takes the overall outcome is closely linked with other global economic forces.
Even people in relatively secure jobs are starting to feel nervous about the future. Those under threat of redundancy or who have already lost their jobs are eager to know what Job Centre Plus and other government agencies can do to help them. Some of these people are facing personal financial crises that will not be eased until they can get back into work. For some, there is double trouble because both partners in the relationship were employed by a business that has gone under. A good example of this is the collapse of Woolworths: a major employer whose demise put 30,000 employees out of work. The impact on the family budget is obvious in any redundancy but is especially traumatic where two or more people from the same household are affected.
A study by the TUC has pointed out that women's jobs are more likely to be hit as the recession deepens. There is evidence that women are already being made redundant at almost double the rate for men; complaints are being voiced that women are the subject of discrimination, despite legislation designed to stop this happening, but it is also true to say that many employers in the retail and hospitality sectors - which have been hard hit - have a high percentage of female workers.
Stress caused by unemployment and its consequences has a very real effect on health and family breakdown. One of the largest causes of people visiting their GP, stress is an affliction of the modern age but doctors are starting to see the incidences of stress rise dramatically. Feelings of anxiety are often made worse because the person concerned feels that events are happening around them and there is nothing they can do to control the outcome.
Anyone in this situation should take heart. Firstly, make use of agencies such as the Citizens Advice Bureau, which are set up to help people take action and direct them to available resources. Secondly, remember that lots of people do come through redundancy and make a new career for themselves. Although painful at the time, a path that otherwise would not have been taken can lead to a real transformation of lives…for the better! Thirdly, if you are facing the possibility that your home could be repossessed, take advice on your options and liaise with your lender. If there is no way out of the repossession, contact Property Rescue. Their guarantee to buy your home will give you an option to sell up, avoid being made bankrupt and all that entails, and even allow you to remain in your home as a tenant should you so wish.
For more information, contact Property Rescue today.