Unemployment level scales new high and it is still expected to grow in the coming year. The unemployment level reached to whopping 2.1 million highest I the past 12 years. The economy is expected to decline at a rate of 3.5 percent the worst since the Second World War. Further the unemployment rate is expected to grow to 3 million by the next year due to recession and if that were not enough now the effect of deflation would make things much worse.
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