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No Work and No Education, What are the Long Term Effects of the Recession on Britain?
With unemployment numbers at an all time high many more are looking to study in 2010. Record numbers of students have applied to University but figures currently show that close to 200,000 candidates will miss out on degree courses.
By: Carolina Consulting
Ucas chief executive Mary Curnock Cook said this year would be "very challenging and competitive"
There are several reasons to worry about the high long-term unemployment numbers. On the individual level, the longer you stay unemployed, the more unemployable you become. People lose job skills, social skills and the will to search for a job as they spend time out of work. Unemployment affects individuals' sense of well being, producing higher rates of depression and lower levels of life satisfaction. On average all job losers tend to face a permanent reduction in their salary, and that is even more common for the long-term unemployed.
Long-term unemployment is also dangerous for the economy as a whole. One quarter of the long-term unemployed permanently leave the workforce, a recent study by the Congressional Budget Office found, producing increased loss of output in the economy. Long-term unemployment burdens social services, diminishes spending levels in the economy and drains overall savings.
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Carolina Consulting entered the London market in 2008. We are an innovative consulting company that opened its doors in response to the demands from clients for a more effective, personal and results driven marketing approach.
Page Updated Last on: Apr 28, 2010