Sunday, Mar 11, 2007
Lots more financial services jobs to go to Mumbai
S Times: Pru revamp risks thousands of jobs
Imagine that...
Deloitte said in 2004 that by 2010 2 million fin servs jobs would from the West to The East, of which I estimated 200k would be from UK - and that's only fin servs. All those second incomes servicing bank loans...
Posted by financial planner @ 02:27 PM (161 views) Add Comment
4 Comments
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1. enuii said...
More people to swell the ranks of the proliferation of low paid government sponsored and subsidised, tax funded, non-jobs, can't beat buying votes can you, it's what kept NeoLabour in power after all.
2. Weycresto said...
I thought we were in transition from a manufacturing economy to service economy, except the service jobs in the invisible sector are going East as well. Lets hope the Chinese will be happy to pop over a hair cut or a meal in one of takeaways!
3. talking rot said...
SO, having moved from a heavy manufacturing-based industry to a gleeming-new service based industry, we find that jobs are being lost to the same countries who took the manufacturing jobs. Perhaps we need to look at why? Oh well, not to worry, we have a miracle economy based upon services and errr, selling houses.
4. Weycresto said...
Well I think we are being transitioned to a global economy via a debt economy, with inflated asset prices as a temporary "sweetener." We can't all work in B&Q. Who knows, when it all crashes, we might be competitive enough to start manufacturing again! All those Indian and Chinese enterprises will be able to setup shop here and employ cheap labour. Well the Indians are already buying whats left of our steel industry. I wish people in the UK would stop consuming and start making foreign investments in proper money earning assets (that doesn't mean inflated flats in Kiev or Alicante). If you have to MEW, MEW sensibly! ;o)