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Sleepless in Fulham: Rambling and gambling by David Young
Tuesday, 10 June 2008
It won't be fun for the people who lose their jobs either.
Topic: Politics

Check out this story from yesterday's FT:

UK heading for steep rise in unemployment.

I can't get over the first sentence:

To add to the concerns of hard-pressed British property owners who already face falling house prices, rising petrol costs and higher utility bills, the UK's labour market is on the verge of a turning point that will bring a significant increase in unemployment.

Is there anywhere else in the world where a story about thousands of people losing their jobs is presented as bad news because of the way it affects the property market for others? I find it incredibly revealing about what is wrong with this country.

Tuesday, 17 June 2008 - 7:46 PM BST

Name: "DG"

You're missing the point, its not talking about about unemployment affects the property market for others.

These people who are going to lose their jobs are homeowners themselves - UK homeownership rate is something around 70-75%.


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