The financial pressures placed on individuals change over time. This is because they are affected by external circumstances such as high unemployment and the rate of inflation. The business cycle illustrates the scope and size of these changes. UNISON’s There for You aims to support UNISON members throughout the phases of the business cycle. The charity offers advice, support, debt advice and financial assistance.
A business cycle is something that occurs over time in all economies across the world. A sequence of events, both positive and negative economic activity, takes place during the cycle. These stages of the cycle keep repeating over time. The business cycle consists of the following periods; boom, downturn, recession and recovery.
In recent years the UK has suffered a double-dip recession. However, analysts expect the economy to continue to strengthen this year. Official figures have confirmed that the UK economy grew by 0.7% in the second quarter of the year. (BBC, 26th September 2012)
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