That boast was promptly undermined when a barrage of negative reports was released last week , showing that personal bankruptcies surged 34 % in June compared with last year ; the number of homes subjected to foreclosure proceedings rose 32 % as against a year ago ; the number of people out of work for 27 weeks or longer reached a record 5m ; and retail sales dipped in July despite a big boost from a popular secondhand car trade-in programme .