Monday, September 22, 2008
Category:
Consolidation
According to the Office for National Statistics, the number of working-age people in workless households between April and June 2009 stood at 4.8 million.
This marked a 500,000 rise from 12 months earlier. Additionally, the number of children living in households where no job is held has increased by 170,000 to 1.9 million.
The percentage of households in which no adults are employed was found to have increased to 16.9 percent from 15.8 percent the year before. This represents the greatest percentage since 1999 and the most significant year-on-year rise since 1997, which was when comparable estimates became available.
In terms of the quantity of workless households, the figure was revealed as being 3.30 million, which equates to 240,000 more than the previous year. In contrast, the quantity of working households was revealed as being 10.7 million, which equates to a reduction of 410,000 from the previous year.
With regard to workless households, this rate was established as being the highest for single parent households at 40.4 percent, with one person households coming in second place at 30.1 percent. From a geographic perspective, the workless household rate in the North East was discovered to be the highest at 23.2 percent, with the lowest in the East of England at 12.2 percent.
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Homeowners who have experienced a period of unemployment in the past, but are now back on track and looking to re-organise their finances, could consider taking out a secured loan to
consolidate any existing debts. One of many finance options available, a secured loan for debt consolidation could be used to tie up previous borrowing into one place. For example, multiple monthly credit cards bills could be replaced with a single monthly repayment, which could even be lower than current outgoings. However, when taking out a debt consolidation loan, it must be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
