Official figures show that the unemployment figure rose by 281,000 in the three months to May. This was the biggest quarterly increase on record, taking the total to 2.38m, the highest since 1995.
The number of people claiming jobseeker’s allowance increased by 23,800 in June to 1.56m, the worst total since Labour came to power in 1997.
It seems that no industry or sector is safe and as every day goes by another company bites the dust or announces job losses. If you haven’t been affected yet, you probably know someone who has.
Some people, with long careers with one company, may leave with handsome payoffs, but many will not. Careful planning to make your money stretch as far as possible is never more important than when you are facing the prospect of unemployment.
You need to understand your rights, make the most of your payout and try to get the best deal possible. Here are 10 ways to help you deal with redundancy.
» Read more: 10 ways to deal with redundancy
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