18 November, 2008

Joining the job queue in US ,UK

America’s unemployment rate in October hit a 14-year high of 6.5%. Meanwhile, Circuit City, an electronics retailer with 40,000 employees, sought bankruptcy protection. It is the largest American retailer to go bust since the start of the credit crisis.

In Britain the unemployment rate reached an average of 5.8% for the three months to September. BT, Britain’s biggest telecoms company, said it was cutting 10,000 jobs. As the Bank of England delivered another glum outlook on the economy, the pound hit a six-year low of $1.49