UK Unemployment

29/07/2010

The unemployment rate stands at 7.8% an increase of 0.3% over the year, or up 92,000 on the previous year.

Minister for Employment, Chris Grayling said:

“There is still a huge amount of work to do to revitalise the economy and create an environment where businesses are growing and employing people again. What concerns me in today’s figures is that while there are more jobs in the economy there is too little evidence of them being taken up by the five million people who are stranded on out-of-work benefits under the previous Government. While there are fewer people on Jobseekers Allowance this month, the numbers claiming other benefits remains stubbornly high, and many of these people have been dependant on benefits for years. That’s why we are pressing ahead with the Work Programme to give these people the support they need when they need it.”

With very little support for Mortgage Payments and nothing for the first 9 months. 40% of repossessions are caused by job loss, it is now more important that consumers consider the benefits of Mortgage Payment Protection. The sectors most at risk at the present time are Central Government, Local Government and the National Health Service.

 Argent Consulting Comment

With the typical cost of Mortgage Payment Protection for £500 per month benefit less than £15 per month, receiving your first payment 30 days from the date of redundancy, and be covered for 12 months, having Mortgage Payment Protection makes economic sense in today’s unemployment climate.

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