Unemployment continues its upward progress, what the Labour Party never admit is that unemployment is a lagging indicator, ie its a result of the economic conditions in the past not the present.
They also make a lot out of “Maggies Millions” but if you look carefully at the graph and recall the Winter of discontent prior to 1979 you can see that the peak of 3m unemployed in 1983 was a result of the previous economic policies in place.
Unfortunately for the country the same thing is now happening again. Unemployment is shooting upwards, but its going to only reach a peak some 12 or 18 months after the next election.
Looking at the trend, and knowing that the national budget will have to be brought back into balance, then its likely that unemployment will peak at 4.5 – 5millions. That absolutely shocking and the blame lies squarely on Gordon Browns Shoulders.
The good news is that I am confident that Mr Cameron will be able to sort out the mess, though its going to be a slow and painful process.