The latest unemployment numbers published by the Office for National Statistics (ONS) bears no surprises. The unemployment numbers rose yet again by 28,000 well surpassing the 2.5 Million mark to a high of 2.67 Million. However the details behind these numbers did not make for pleasant reading. Unfortunately, women seem to be hit disproportionately by the increase in the unemployment. The share of women in the rise of unemployment is nearly 80% and while the underlying reasons vary from increased child care costs making the whole idea of women working and having child care becoming uneconomical to comparatively less flexibility in terms of re-locating for work and skills levels.
The number of people seeking Jobseekers Allowance also increased by 7,200 to about 1.61 Million in February. The number of people and full-time employment fell 50,000.The silver lining if any was that the number of people in part-time employment increased by 59,000 to 6.6 million.
Also the number of people that have ended up in part-time due to not finding a full time job increased by 110,000 to its highest levels of 6.6 Million since records began in 1992.
The predictions from the Government both in the budget speeches and the later analystsí reports all indicate that the unemployment levels is bound to increase in the short term.
Kesh Thukaram, Director of Best Insurance commented that increasingly the assumptions of the Government that the job losses in public sector will be replaced by increased employment opportunities in the private sector is getting bleaker. The unemployment is bound to increase as the private sector is struggling to maintain growth and stability. More job cuts are inevitable as the various sectors are re-adjusting to the long term reality of low growth rates for years to come.
Best Insurance has a wide range of unemployment insurance policies. Both income protection and payment protection policies offer unemployment protection. Several of the policies offered by Best Insurance are Defaqto 5 star rated and hence robust both in terms of scope of the policies and its benefits. The range of commitment protection policies covers all outgoings including expenses such as TV licence to mobile phone bills. Depending on the type of policy and insurer, the benefit amount can vary. Generally, the maximum amount of benefit that can be offered by Best Insurance is in the region of £2,000 to £3,000 per month. Policies can be bought online and also by speaking to an advisor.
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