The day has arrived: Unemployment hits 2.03 million.

Figures have been released by the national office of statistics this morning, with the chamber of commerce now reporting the thinking that it will hit over 3 million by the end of 2010. The figure stands at 6.5% of the working population are now unemployed. Couple that with the lowest number of job vacancies posted as well, it doesn't make good reading. Depending on the location you can easily see 10 applications for every new post and going as higher as 50+ applications in some areas.

Does it get any better? Not really. The IMF report that the UK recession is deeper than any other G7 country and will be longer than any of the other countries.

It's not going to go away soon I'm afraid.