Unemployment rises again

Those with debt management problems may face more challenges as unemployment has risen again.

Data from the Office For National Statistics has shown that during the three months to the end of August, the total number of people out of work rose by 88,000, taking the jobless rate from 7.6 per cent to 7.9 per cent.

At the same time, the number in work fell by 45,000 and there were 233,000 redundancies.

Such a development may have a major impact on those with debt management issues, not least those losing their jobs or whose partner or spouse has.

One chink of light is that the rise was not as large as in past quarters and economist Howard Archer of Global Insight said the worst of the losses appear to have come and gone.

Despite this, he warned: “It is premature to anticipate any near-term turnaround in the labour market. Indeed, we suspect that unemployment still has some way to rise.”

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