The latest official figures in UK say it all. In what threatens to be one of the longest, deepest and most painful economic recessions in history, it has been estimated that around 2500 people are being made redundant every day in the UK. Unemployment has risen to 1.92 million, the highest figure since Labour party came to power in 1997.One in ten people will be unemployed by the time the meltdown has finished, according to the Chartered Institute for Personnel and Development.

But what makes matters worse is that experts are predicting that Britain is ‘only at the start’ of the darkest period for jobs which today’s workers will have ever experienced. Workers over 50 are the biggest casualties of the meltdown, an age when the chance of finding another job on the same salary is slim. When such figures after being announced, it was only natural that the Tories and sections of media rightly accused the UK Employment minister Tony McNulty of “living in a fantasy world” after he claimed 2 days ago that “There was light at the end of the tunnel for the economy”.

Via Dailymail