Blanchflower foresees a miserable Christmas

Hardly a day goes by now without a new set of grim economic forecasts in the papers.  But some stand out more than others, such as the prediction made by David Blanchflower today that 300,000 more people will be unemployed by Christmas – putting overall unemployment at over 2 million.  If Blanchflower’s correct, it would be the most dramatic – and sorry – impact that the current downturn’s had on the lives of British people so far.  And, of course, it compounds the Government’s problems.  Not only will Brown no longer be able boast about “low employment”, but the idea that any kind of “economic recovery package” will make a substantial difference is looking increasingly fanciful.