UK: Take Action, Cut Interest Rates
David Blanchflower, The Guardian | September 24, 2008
Unemployment in Britain will rise by 2 million by the end of the year. ++ Just last month 81,000 more British citizens were without jobs, causing the unemployment rate to rise from 5.3% to 5.5%. ++ Job activity is on a sharp decline. ++ Employers are not hiring, and unemployment among the youth is very high. ++ Unfortunately, the UK economy tends to follow the path of the US economy, simply six to nine moths later. ++ Labor markets in both countries are grim. ++ The time has come in the UK to cut interest rates.
Tags: | interest rates |
david blanchflower |
job loss |
financial crisis |
unemployment |
UK |
Britain |
