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UNEMPLOYMENT AND REPOSESSIONS ON THE RISE AS MORE NORTH WEST COMPANIES GO BUST

March 4, 2009 3:31 PM

Andrew StunellUnemployment rose by almost 6,500 in Greater Manchester last month, as repossession orders, and the number of companies winding up went through the roof, according to research by Liberal Democrat MP Andrew Stunell.

Figures from the Office of National Statistics show unemployment in Greater Manchester rose by 6,407, an 11% increase, between December 2008 and January 2009, to 64,713.

At the same time, Figures from the Ministry of Justice show that the number of repossession orders rose by 1,780 in the Fourth Quarter of 2008. In addition, a further 283 companies wound up in the Fourth Quarter of 2008, a 31% increase on the Third Quarter.

Andrew's own area of Stockport has suffered during the recession, with unemployment jumping by 14.3% in the last month to 6,359.

Commenting, Andrew said:

"The recession continues to bite, and is causing chaos in every sector of the economy. I am very concerned about the effects this current downturn is having on people across Greater Manchester.

"Jobs are being lost in almost every sector, from low-paid unskilled work, to hi-tech jobs, and the downturn is stretching more and more people to breaking point.

"It is vital that the Government offers help to the millions who are struggling to keep their heads above water. Income tax should be cut, and the banks must pass on the cuts in interest rates to reduce the cost of borrowing and keep people in their homes, and businesses open.

"The banks had their bail-out, it's time ordinary people had theirs."

ENDS

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