Low pay, insecure work and austerity are feeding a growing debt crisis, the TUC has warned today (Thursday).
New TUC analysis published today shows that:
- Unsecured debt per household rose to £15,880 in the first quarter of 2019, up £1,160 on a year earlier.
- Over half of households report having unsecured debt, most commonly in the form of credit card debt (60%), overdraft (28%), personal loans (25%) and car finance (25%).
- Young people are disproportionately likely to be in debt. 70% of 18-34 year-olds report having a type of unsecured debt. This drops to 33% among people over 65.
Read the full article on this link to the TUC