The UK unemployment rate will rise from its current 8.3% to almost 9% by the end of this year, doing “permanent damage to the UK’s productive capacity”, a think tank has said.
The National Institute of Economic and Social Research (NIESR) said that the persistent weakness in the economy was “unprecedented”.
It says growth in 2012 will be close to zero. It forecasts 2% growth in 2013.
On Thursday, the CBI forecast growth of 0.6% this year and 2% next year.
Official figures from the Office for National Statistics (ONS) last week showed that the economy shrank by 0.2% in the first quarter, returning the UK to recession…
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Read More @ BBC News – High unemployment to do ‘permanent damage’ to UK.
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