2.5 million unemployed – and rising

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Last year I predicted unemplyment would rise to 4 million before this recession was over.

Unemployment rose to 2.5 million last month.

1 in 5 of our young people is unemployed - destroying hopes, skills and prospects, as evidence shows in many cases for life.

I stand by my forecast - thousands more job losses in local authorities were announced yesterday, and all of them will have knock on effects.

No one - not one serious commentator - believes the private sector is picking up the slack. VAT increases, inflation (even if we can't and should not do anything about it), pay freezes, cuts, and fear - coupled with the absolute reluctance of the private sector to invest - guarantees that.

This government has been and is pursuing an economic policy that is guaranteed to fail.

The only question is how long will we be forced to endure it - and how radical will the steps to corect it need to be?