Credit Crunch

The stats

A BBC poll has found that most people think the recession has bottomed out.  But the majority also believe there won't be any improvement for a while.  Four in ten of those surveyed are worried about unemployment - two thirds know someone who is out of a job because of the downturn.

Here's the results (from English respondents) of this question: Which of these statements best sums up your view of the economic recession?

I think the economic recession will continue
to get worse for some time yet                                         39%

I think the economic recession won't get any
worse but it won't improve for a while yet                          48%

I think the economic recession is behind
us and things are starting to improve                                  12%

Have you been directly affected?

A new statistic

Debbie Keane, from Horsforth, lost her job four weeks ago. She worked in Leeds city centre in a legal firm and was told her job was redundant. This is the first time Debbie has been unemployed in a working life of 32 years.

Debbie's single with some savings and is taking this horrible news as an opportunity to try a new direction, she is now looking to try a job that involves working outdoors.

Debbie spoke with BBC Radio Leeds' Daragh Corcoran about what it was like to go through the door of the job centre for the first time. She says:

"I felt quite humiliated and ashamed, I know it sounds awful to say that but I was a bit scared as well..."

The view from the top

Steve Bailey of BBC Radio Leeds recently asked the Deputy Governor for monetary policy at the Bank of England, Charlie Bean, about the strength and the depth of the recession and the current economic climate.

Mr Bean was in Leeds meeting business leaders to discuss what he admitted was a "very sharp downturn in the world economy."

He was also asked about the people who were suffering because the reduction in interest rates had hit the income they received.

"That is the normal state of affairs in monetary policy. When either we cut interest rates or raise interest rates it hurts some people and helps others. Having said that I have every sympathy... for savers who are getting next to nothing on savings accounts."

Asked how long the recession may last Mr Bean says: "I don't know it would make life a great deal easier if we were able to foretell the future with 100% accuracy.

"... We probably have, roundabout, hit bottom... going forward we would expect things to improve, it's likely it will be quite a long haul... but over time the economy will recover."

Your stories

The bare economic statistics cannot tell the full story of the downturn we want to hear from you, use the form on this page to contact BBC Leeds with your stories.