BGN Entrepreneur

Due to the economic recession, more and more companies go bankrupt and most remaining businesses are cutting large percentage of their employees in order to further cut their operational cost. The hike in unemployment is reinforced by the economy heading towards deeper recession.
In October, the number on jobseeker’s allowance rose by 36500. Then in November, the number rose by 75700. According to figures from Times, it’s shown that the total number of people out of work in the UK rose by 137000 to 1.864 million, which is the highest rate since June 1999, meaning that 6% of the nation’s population is now unemployed.
Now, the number of jobless claimants in the UK has broken one million for the first time in eight years. Today, the total claimants has hit 1.07 million and is the highest number ever since January 2001
Meanwhile, the glooming employment situation in the U.S. is not much better than in the UK. Figures rom the Department of Labor shows that 6.7% of the American workforce is now out of work.

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