October 19, 2020
- Olivia Elmore
- October 3, 2018
The drop in the unemployment rate in the UK despite fast approaching Friday, 29 March 2019 is being hailed widely. The UK unemployment rate in June 2018 was around 4 %. The numbers of unemployed came down to 65,000 during January – March 2018. The other side of the shining coin is not as gloomy as the wage growth during this period has been considerably low in comparison to the inflation rate. The nine months low wage growth in all the sectors forces more employed people either to change the job for better earning or to borrow to meet out the fast increasing living expenses. The survey reports reveal that unemployed people are struggling more to get good salary job as per their expectations. The long jobless period and financial insecurity despite being in a job are turning the employed and unemployed both towards the direct lending store dealing in quick loans for unemployed and employed.
Brexit impact on Unemployment and Wage Growth:
When Britain’s Prime Minister Theresa initiated two years process to quit European Union (EU) on March 29 – 2017, the numbers of British government officials and ministers were expecting long-term economic crisis but against all the speculations, the UK economy grew fast @1.8% in 2017. Although the inflation rate increased up to 3.1% but the unemployment rate continued to drop. The low unemployment rate resulted in lower wages because the record numbers of people were on work. The decreased income caused by price inflation forced more people to borrow.
Can The Unemployment Benefit Save You From Unemployed Loan?
Despite knowing all about the UK govt. support for the unemployed, the numbers of jobless people, almost 300,000, didn’t claim jobless benefits in Q1 2018. Several survey reports confirm that the numbers of jobless people entitled for unemployed benefit prefer the tailored instant loans for unemployed as a dependable solution to short-term financial woes. Unemployment benefit helps to pay regular monthly bills and living expenses saving you from borrowing from the direct lending agencies. The weekly job seeker allowance for 24 years old unemployed is £57.90. The unemployed aged 25 years or more can avail this weekly financial help up to £73.10-£114.85. Any UK resident living in England, Scotland, or Wales who is older than 18 years until the retirement age is entitled to unemployment benefit. If a person resigns the job, he is not entitled to jobseeker’s allowance. Although the unemployed have to do some simple formalities unemployed benefit is something great that can help you avoid borrowing until the last possible.
Quick Unemployed Loan – A Dependable Financial Help:
Although the overall statistics are in favour of unemployed because the unemployment rate is coming down, more jobs are available in all the sectors and Govt. offers adequate jobless benefit also. However, many times even the jobless benefit becomes inadequate to let you pay all the dues organizations time; therefore, your focus from the getting a suitable job shifts to funds arrangement. The numbers of direct lending agencies with online presence offer a variety of quick loans for unemployed but at a different rate.
The Parting Note:
The quick loans for unemployed have been proved a great help for the numbers of people having no regular income. Although the unemployment rate is coming down the demand for unsecured loans is still high as it used to be a couple of years back. It is a dependable help but if no other way is left to be tried including the jobless allowance.