Unemployment soars

Image courtesy of http://www.ukstudentlife.com

By Dionne Abolghassem

THE closure of the retail giant Woolworths is just the beginning of the struggle for Britain’s retail sector in the economic downfall.

Over 27,000 employees of Woolies are set to lose their jobs after the company announced they would have all 807 outlets shut down by January 5th.

The failure to find a buyer to rescue the popular franchise before it reaches its one hundredth birthday, is another sign of economic hardship for the UK.

Tony McNulty, Employment Minister, said: “This month’s Labour market figures are very disappointing and we will do all we can to give real support to people during these tough times.”

Almost 100, 000 people are claiming Jobseeker’s allowance as turmoil in the economy forces many into unemployment.

Scotland’s unemployment rate has reached its peak with over 20,000 Scots out of work, the highest levels in nearly 34 years.