Link to article
Last Modified: 21 Jan 2009
By: Lewis Hannam, Bridgid Nzekwu
The number of people out of work in some towns and cities in the UK has more than doubled in the past year, Channel 4 News has found.
To see how many people have lost their jobs in your area - see our breakdown by UK constituencies:
Thursday, 22 January 2009
Wednesday, 21 January 2009
Your town and the credit crunch jobless
Link to the article
Last Modified: 21 Jan 2009
By: Lewis Hannam, Bridgid Nzekwu
The number of people out of work in some towns and cities in the UK has more than doubled in the past year, Channel 4 News has found.
Hull, Crawley, Barnsley, Bishop Auckland, the Rhondda in Wales and Mid Ulster in Northern Ireland are among the areas hardest hit by the credit crunch, research obtained from the Office of National Statistics (ONS) shows.
In Mid Ulster the number of people claiming unemployment benefit rose by 147 per cent between November 2007 and November 2008, from a total of 637 to 1,515.
In Barnsley, South Yorkshire, the number of people claiming rose 107 per cent in the same period, from 781 to 1,618.
According to the ONS figures obtained by Channel 4 News, the 10 areas which have suffered the biggest overall increase in the total number of people claiming unemployment benefit are:
* Kingston Upon Hull North: 1,177 more people claiming unemployment benefit
* Kingston Upon Hull East: 1,045
* Mid Ulster (Northern Ireland): 938
* East Londonderry (Northern Ireland): 938
* Halifax: 931
* Cannock Chase (Staffordshire): 906
* Upper Bann (Northern Ireland): 902
* Barnsley East & Mexborough: 897
* Kingston Upon Hull West & Hessle: 874
* Bishop Auckland (County Durham): 867
The area with the biggest increase in the unemployment rate - the percentage of the resident population who are looking for work but unable to find it - was the Rhondda, where it rose 1.7 per cent in 12 months.
Details over the areas hardest hit by the economic downturn were revealed as new nationwide unemployment figures show that the jobless total increased by 131,000 to 1.92 million between September and November.
The UK now has an unemployment rate of 6.1 per cent and the two million barrier is sure to be breached next month following a spate of job cuts since the start of the year.
The number of people claiming jobseeker's allowance increased last month by 77,900 to 1.16 million, the worst figure since 2000.
Employment Minister Tony McNulty said: "In these tough times, people need real help to find a job. That's exactly what this government is offering and every day people are finding work.
"These figures show that whilst more people are claiming Jobseeker's Allowance, 231,000 have come off in the last month as people take advantage of the extra help on offer.
"The government is doing all it can to ensure economic stability for businesses, homeowners and jobseekers. The measures that we have introduced over the recent months are designed to support the recovery of the economy and ensure that people have the best support to get back into employment.
"Every person looking needs to know that there are jobs out there and we will give you the support you need to fill one of those half a million vacancies that are available right now. We will continue to ensure everyone who loses their job has access to the full range of support that Jobcentre Plus has available.
"Our message to job seekers is clear - we won't give up on you but you mustn't give up on looking for work."
Last Modified: 21 Jan 2009
By: Lewis Hannam, Bridgid Nzekwu
The number of people out of work in some towns and cities in the UK has more than doubled in the past year, Channel 4 News has found.
Hull, Crawley, Barnsley, Bishop Auckland, the Rhondda in Wales and Mid Ulster in Northern Ireland are among the areas hardest hit by the credit crunch, research obtained from the Office of National Statistics (ONS) shows.
In Mid Ulster the number of people claiming unemployment benefit rose by 147 per cent between November 2007 and November 2008, from a total of 637 to 1,515.
In Barnsley, South Yorkshire, the number of people claiming rose 107 per cent in the same period, from 781 to 1,618.
According to the ONS figures obtained by Channel 4 News, the 10 areas which have suffered the biggest overall increase in the total number of people claiming unemployment benefit are:
* Kingston Upon Hull North: 1,177 more people claiming unemployment benefit
* Kingston Upon Hull East: 1,045
* Mid Ulster (Northern Ireland): 938
* East Londonderry (Northern Ireland): 938
* Halifax: 931
* Cannock Chase (Staffordshire): 906
* Upper Bann (Northern Ireland): 902
* Barnsley East & Mexborough: 897
* Kingston Upon Hull West & Hessle: 874
* Bishop Auckland (County Durham): 867
The area with the biggest increase in the unemployment rate - the percentage of the resident population who are looking for work but unable to find it - was the Rhondda, where it rose 1.7 per cent in 12 months.
Details over the areas hardest hit by the economic downturn were revealed as new nationwide unemployment figures show that the jobless total increased by 131,000 to 1.92 million between September and November.
The UK now has an unemployment rate of 6.1 per cent and the two million barrier is sure to be breached next month following a spate of job cuts since the start of the year.
The number of people claiming jobseeker's allowance increased last month by 77,900 to 1.16 million, the worst figure since 2000.
Employment Minister Tony McNulty said: "In these tough times, people need real help to find a job. That's exactly what this government is offering and every day people are finding work.
"These figures show that whilst more people are claiming Jobseeker's Allowance, 231,000 have come off in the last month as people take advantage of the extra help on offer.
"The government is doing all it can to ensure economic stability for businesses, homeowners and jobseekers. The measures that we have introduced over the recent months are designed to support the recovery of the economy and ensure that people have the best support to get back into employment.
"Every person looking needs to know that there are jobs out there and we will give you the support you need to fill one of those half a million vacancies that are available right now. We will continue to ensure everyone who loses their job has access to the full range of support that Jobcentre Plus has available.
"Our message to job seekers is clear - we won't give up on you but you mustn't give up on looking for work."
Unemployment 1.92 million and rising
Link to the article
Last Modified: 21 Jan 2009
By: Jane Deith
Unemployment rose to 1.92 million in November and is set to rise further, with dramatic implications for families throughout Britain.
Richard Walmsley was made redundant by the MFI furniture chain last summer and the father-of-two from Northamptonshire has been looking for work ever since.
Last month, the number of people claiming jobseeker's allowance increased by 78,000 to 1.16 million, its highest total since September 1997, the year of Labour's first landslide election victory.
This figure does not include the tens of thousands of redundancies made since then.
The employment minister has predicted more pain ahead, with the outlook for jobs likely to worsen before it improves.
But he said the government is providing help for people who lose their jobs.
Last Modified: 21 Jan 2009
By: Jane Deith
Unemployment rose to 1.92 million in November and is set to rise further, with dramatic implications for families throughout Britain.
Richard Walmsley was made redundant by the MFI furniture chain last summer and the father-of-two from Northamptonshire has been looking for work ever since.
Last month, the number of people claiming jobseeker's allowance increased by 78,000 to 1.16 million, its highest total since September 1997, the year of Labour's first landslide election victory.
This figure does not include the tens of thousands of redundancies made since then.
The employment minister has predicted more pain ahead, with the outlook for jobs likely to worsen before it improves.
But he said the government is providing help for people who lose their jobs.
Fears over banks as pound plummets
Link to article
Last Modified: 20 Jan 2009
By: Faisal Islam
The pound slumps on the foreign exchange markets to its lowest level against the dollar for seven and a half years.
The currency was undermined by renewed fears over Britain's banks.
Shares in Lloyds dropped nearly 50 per cent at one point, despite yesterday's bailout.
Last Modified: 20 Jan 2009
By: Faisal Islam
The pound slumps on the foreign exchange markets to its lowest level against the dollar for seven and a half years.
The currency was undermined by renewed fears over Britain's banks.
Shares in Lloyds dropped nearly 50 per cent at one point, despite yesterday's bailout.
Monday, 19 January 2009
Why do we need another bailout?
Link to the article at Channel 4
Last Modified: 19 Jan 2009
By: Faisal Islam
Economics correspondent Faisal Islam talks to chancellor Alistair Darling on the morning the government announce a second plan to help the banks.
Last Modified: 19 Jan 2009
By: Faisal Islam
Economics correspondent Faisal Islam talks to chancellor Alistair Darling on the morning the government announce a second plan to help the banks.
EU youth protest economic crisis
Jan 19 - Youth protest in Central and Eastern Europe against the economic crisis, compounding resentment against their governments.
Scenes of angry youths, tear gas and bristling riot police have become increasingly familiar in a wave of protests that swept through Eastern and Central Europe in recent weeks.
Experts say they expect more violence to come, as the region is increasingly hard hit by the global financial crisis.
(SOUNDBITE)(English) REPRESENTATIVE FROM "STUDENTS AGAINST THE SYSTEM"
Link to the article: Reuters
Scenes of angry youths, tear gas and bristling riot police have become increasingly familiar in a wave of protests that swept through Eastern and Central Europe in recent weeks.
Experts say they expect more violence to come, as the region is increasingly hard hit by the global financial crisis.
(SOUNDBITE)(English) REPRESENTATIVE FROM "STUDENTS AGAINST THE SYSTEM"
Link to the article: Reuters
Thursday, 15 January 2009
Heathrow third runway causes outcry
Link to the article: Channel 4
Last Modified: 15 Jan 2009
By: Gary Gibbon, Tom Clarke
Transport Secretary Geoff Hoon's approval for a third runway at Heathrow causes rowdy scenes in the Commons and outrage from environmentalists.
A controversial plan that still may never see the light of day; the government insisted that it was in the best interests of Britain, despite protests from residents and some Labour MPs.
The government says all planes using the third runway will have to meet strict noise and air pollution targets.
There is also the impact on the local community, with houses and schools having to be demolished to make way for the runway, which is expected to be operational by 2020.
Tom Clarke reports on the environmental impact
Interview: Ed Miliband, environment secretary
Interview: John Sauven, director, Greenpeace
Last Modified: 15 Jan 2009
By: Gary Gibbon, Tom Clarke
Transport Secretary Geoff Hoon's approval for a third runway at Heathrow causes rowdy scenes in the Commons and outrage from environmentalists.
A controversial plan that still may never see the light of day; the government insisted that it was in the best interests of Britain, despite protests from residents and some Labour MPs.
The government says all planes using the third runway will have to meet strict noise and air pollution targets.
There is also the impact on the local community, with houses and schools having to be demolished to make way for the runway, which is expected to be operational by 2020.
Tom Clarke reports on the environmental impact
Interview: Ed Miliband, environment secretary
Interview: John Sauven, director, Greenpeace
Wednesday, 14 January 2009
Extended interview: John Varley
Link to article at Channel 4
Last Modified: 14 Jan 2009
By: Jon Snow
Jon Snow interviews John Varley, the head of Britain's third biggest bank, Barclays.
Talking to Jon Snow, Chief executive of Barclays, John Varley, calls for a government "tax incentive for saving" adding that he would support a "short burst" of "judicious" quantitative easing.
Last Modified: 14 Jan 2009
By: Jon Snow
Jon Snow interviews John Varley, the head of Britain's third biggest bank, Barclays.
Talking to Jon Snow, Chief executive of Barclays, John Varley, calls for a government "tax incentive for saving" adding that he would support a "short burst" of "judicious" quantitative easing.
Tuesday, 13 January 2009
BAA dismisses 'clever stunt'
Link to the article: Channel 4
Last Modified: 13 Jan 2009
By: James Blake
BAA sources tell Channel 4 News that plans are well underway for the third Heathrow runway, despite Greenpeace attempts to delay the project.
The Greenpeace purchase of a piece of land central to the expansion project has been dismissed as nothing more than a "clever stunt", and sources say it will not delay work.
This latest development comes amid last-minute political objections which may further delay the government decision.
Last Modified: 13 Jan 2009
By: James Blake
BAA sources tell Channel 4 News that plans are well underway for the third Heathrow runway, despite Greenpeace attempts to delay the project.
The Greenpeace purchase of a piece of land central to the expansion project has been dismissed as nothing more than a "clever stunt", and sources say it will not delay work.
This latest development comes amid last-minute political objections which may further delay the government decision.
Friday, 9 January 2009
Rates slashed to all-time low
Link to article
Last Modified: 08 Jan 2009
By: Bridgid Nzekwu
The Bank of England cuts interest rates by 0.5 per cent to 1.5 per cent, the lowest rate since the bank was founded in 1694.
Interest rates in the UK have never been lower. The Bank of England decision to cut the base rate by half a percentage point to 1.5 per cent underlines its concerns about the state of the economy.
But with the bank running out of levers to influence the economy, the prime minister and the chancellor today had to deny growing speculation that there were plans to print more money to ease the financial situation.
The cut was expected by most economic forecasters, but that does not make it any less dramatic.
The Bank of England is administering radical treatment to an economy that is sickening faster than it has done in decades. But is the medicine working?
Last Modified: 08 Jan 2009
By: Bridgid Nzekwu
The Bank of England cuts interest rates by 0.5 per cent to 1.5 per cent, the lowest rate since the bank was founded in 1694.
Interest rates in the UK have never been lower. The Bank of England decision to cut the base rate by half a percentage point to 1.5 per cent underlines its concerns about the state of the economy.
But with the bank running out of levers to influence the economy, the prime minister and the chancellor today had to deny growing speculation that there were plans to print more money to ease the financial situation.
The cut was expected by most economic forecasters, but that does not make it any less dramatic.
The Bank of England is administering radical treatment to an economy that is sickening faster than it has done in decades. But is the medicine working?
Base rate: how low can you go?
Link to article
Last Modified: 08 Jan 2009
By: Siobhan Kennedy
Today's 0.5 per cent cut by the Bank of England puts interest rates at their lowest since 1694 - the year Newton discovered gravity.
And the reduction indicates the gravity of today's crisis, amid signs that the government will have to find other ways to reignite bank lending and stave off the worst recession in modern history.
The widely expected base rate cut puts the country in uncharted territory. But business leaders have insisted that, regardless of the cut, it is the availability of credit that remains the vital factor in the face of deepening recession.
And their fears were underlined today by the announcement by car maker Nissan that its Sunderland car plant - the biggest and most productive in the country - is to see 1,200 jobs cut, almost one in four of the workforce there.
Last Modified: 08 Jan 2009
By: Siobhan Kennedy
Today's 0.5 per cent cut by the Bank of England puts interest rates at their lowest since 1694 - the year Newton discovered gravity.
And the reduction indicates the gravity of today's crisis, amid signs that the government will have to find other ways to reignite bank lending and stave off the worst recession in modern history.
The widely expected base rate cut puts the country in uncharted territory. But business leaders have insisted that, regardless of the cut, it is the availability of credit that remains the vital factor in the face of deepening recession.
And their fears were underlined today by the announcement by car maker Nissan that its Sunderland car plant - the biggest and most productive in the country - is to see 1,200 jobs cut, almost one in four of the workforce there.
Monday, 8 December 2008
Thursday, 13 November 2008
Britain 'already in recession'
Link to article
Last Modified: 12 Nov 2008
By: Faisal Islam
With unemployment at an 11-year high and the prospect of economic growth shrinking by as much as 2 per cent, the severity of Britain's recession is made starkly clear.
A gloomy forecast from the Bank of England shows that Britain is probably already in recession and is destined to contract further in 2009.
Interest rates, already at their lowest rate since the 1950s, are set to fall to record lows as inflation possibly goes into negative territory.
Meanwhile, in the US the credit crunch has pushed the American car industry into crisis.
Last Modified: 12 Nov 2008
By: Faisal Islam
With unemployment at an 11-year high and the prospect of economic growth shrinking by as much as 2 per cent, the severity of Britain's recession is made starkly clear.
A gloomy forecast from the Bank of England shows that Britain is probably already in recession and is destined to contract further in 2009.
Interest rates, already at their lowest rate since the 1950s, are set to fall to record lows as inflation possibly goes into negative territory.
Meanwhile, in the US the credit crunch has pushed the American car industry into crisis.
Saturday, 25 October 2008
Britain slips towards recession
Link to article at Channel 4 News
Last Modified: 24 Oct 2008
By: James Blake, Faisal Islam
After 16 years of growth, the British economy has shrunk and could slip into recession in the new year.
A recession only becomes official if the economy has two successive quarters of negative growth.
But gross domestic product fell by 0.5 per cent between July and September so the economy will be in recession if that trend is repeated between October and December.
Last Modified: 24 Oct 2008
By: James Blake, Faisal Islam
After 16 years of growth, the British economy has shrunk and could slip into recession in the new year.
A recession only becomes official if the economy has two successive quarters of negative growth.
But gross domestic product fell by 0.5 per cent between July and September so the economy will be in recession if that trend is repeated between October and December.
Thursday, 2 October 2008
The Bak Bailout: How Would it Affect Us..?
Link to the article: Channel 4 News
Within a week in October 2008 the US and UK governments were forced to bailout their banks in order to save the economic system as the credit crunch began to bite.
Within a week in October 2008 the US and UK governments were forced to bailout their banks in order to save the economic system as the credit crunch began to bite.
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