When the global recession hit, it seemed to hit the UK hard. Banks struggled to survive, hundreds of companies were folding by the week and the cost of every day items appeared to rocket.

As a direct result, unemployment increased to a level it hadn’t been in several years, reaching 8 percent in February and March of 2010 – a rise of almost 3 percent in less than 2 years.

The unemployment rate in the UK has decreased to 7.8 percent in the second quarter of the year, meaning that there are now 2,470,000 people of working age unemployed in the country.

So what does this mean?

Well, that depends on how in-depth you want to take the figures.

Looking at them at face value, basing your thoughts on the simple fact that unemployment is going down, it would not be unwise to think that the UK is continuing to slowly but surely recover from the credit crunch.

Due to this increase in the workforce, it generally means that new jobs are being created, showing a growing confidence by companies to expand their businesses, something which prescription cialis generic is directly affected by the confidence levels of the general public.

This is, however, just one way of looking at the figures and if you take a more in-depth look at them, your views may change on the subject.

For instance, whilst the number of people in employment has increased by over 150,000 people, if you look at the actual types of jobs themselves, it becomes apparent that less than 10 percent were full time positions.

Instead, 148,000 part time jobs were created and filled in the second quarter of 2010.

Plus, this drop in the unemployment rate from the last quarter (when it averaged at 7.9 percent) is only in the UK – Scotland, Wales and Northern Ireland all saw rises – and it also doesn’t give a true representation of the unemployment levels in regions around the country. In three different parts of Birmingham, for example, the unemployment rate is above 9 percent – it touches 11 percent in one area of the city.

Therefore, depending on how you read and interpret the figures it really does depend on how you take the information.

If you’re looking for a rounded answer, however, then most would say that whilst the country is recovering, it’s doing so slowly, taking 2 steps for every step forward.

Although confidence may be increasing around the country, this doesn’t necessarily mean you should start being somewhat frivolous with your money or spending it on things that are not guaranteed to see a return.

Forex trading, for example, is something which can be a fantastic way to increase your income, especially in times like these when currencies are increasing and decreasing regularly. However, to take advantage of Forex trading in a time like this, you need to understand fully what you are doing, which is done simply through copious amounts of research.

There is no doubt the country is recovering; it’s just doing so slowly. Whilst the recent unemployment statistics are positive (or at least more so than recent months), it doesn’t mean the country will be back to its previous state soon.

If you’ve come this far, however, continue to hold on tight – the following months aren’t going to be easy in the UK, but they’re looking brighter than most first expected.

Author Bio: Learn about Forex Trading with Knowledge to Action-learn more on their site www.knowledgetoaction.co.uk, via Greg Secker and Knowledge to Action on Twitter or on one of Greg Secker’s specialist blogs.

Category: Finance/Currency Trading
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