Monday 15th of June 2009
The recession is affecting the various parts of the UK in different ways, research has confirmed.
A study by the Local Government Association (LGA) indicated that London and the south-east of England have been hardest hit by white collar job losses, while blue collar workers in the West Midlands, Yorkshire and South Wales are most affected.
The need for borrowers to address solutions such as debt management plans could be set to increase, as the report showed that the number of managers and professionals claiming Jobseekers’ Allowance has increased by 154 per cent in the last year.
LGA vice-chairman Sir Jeremy Beecham noted that councils are attempting to help people who have lost their jobs, adding that a national approach is unlikely to be effective.
"The needs of leafy, middle-class suburbs are poles apart from the action that needs to be taken in more deprived inner-city areas," he said.
Mental health charity Mind recently noted that concerns over job losses are leading to problems such as stress and depression, but a debt management plan could help those who are worried by ensuring their finances are in order.
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- Interest rates rise could increase financial pressure on homeowners
