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Dave Beans

Cbi Says That Unemployment "has Peaked" At 2.4M

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http://www.thesun.co.uk/sol/homepage/news/money/3144079/Unemployment-in-Britain-has-peaked-at-24million-The-Sun-reports.html

BUSINESS chiefs claim unemployment has almost peaked at 2.4million - and should fall next year. Bosses' organisation the CBI say even the expected loss of 600,000 public sector jobs will not poleaxe a recovery.

Ian McCafferty, CBI chief economic advisor, said: "We are pretty close to the peak. I'm not sure unemployment will rise.

"There are forecasts that 600,000 public sector jobs could go over the next six years. But when you look at the size of the jobs market - 28 million people employed - it's absorbable. I do think it's feasible."

The claim will stun City economists and union leaders.

The British Chambers of Commerce last week said Government spending cuts of £32billion a year would push unemployment from 2.47million to 2.65million.

Trade union bosses plan co-ordinated strike action nationwide in protest at the scale of the cuts.

The CBI insists its unemployment outlook is based on the Government fostering private sector growth with "sensible" decisions on how it cuts and where it invests.

Its deputy general secretary John Cridland will today urge Chancellor George Osborne to do all he can to spend more on infrastructure like London Underground and vital road and rail links over the next four years.

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'The CBI insists its unemployment outlook is based on the Government fostering private sector growth with "sensible" decisions on how it cuts and where it invests.'

can't see a flaw in the logic.

:D

The CBI used to be realsitic and level-headed. Is it a rule that all big organisations must eventually go to bad?

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I can imagine we have seen a peak in the unemployment figure. What does not seem to be taken into account is the huge numbers of people now moving into part time work. This in turn increases the amount paid out in tax credits which is a double whammy for the government.

I know that high unemployment is one of the drivers behind a HPC but I also feel this time we may not see high unemployment but will still get a HPC due to the number of people forced into part time work.

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The only jobs people can quickly mobilise into without retraining (2-3 years) or having a degree, are those lowly paid service jobs. Pizza delivery, shop keeping, van driving etc.

We need less red tape, so people can quickly get back on their feet when they are made redundant or they'll be trapped in these jobs with limited hours.

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The only jobs people can quickly mobilise into without retraining (2-3 years) or having a degree, are those lowly paid service jobs. Pizza delivery, shop keeping, van driving etc.

We need less red tape, so people can quickly get back on their feet when they are made redundant or they'll be trapped in these jobs with limited hours.

I hope the CBI is right, but suspect that their unemployment ideas are over optimistic. The private sector is too weak to create the number of jobs needed to keep up with the new downturn now gathering. The figures on high St spending were very weak for August aswell as mortgage lending hitting a very timely low. We want an economy based, not just on house prices increasing and phoney wealth, but lasting wealth. We need to have our manufacturing sector revived and that will take many years. We should certainly shrink the public sector back to the 1997 level first and go from there as we recover from that mirage of a sustainable, 'no more boom and bust' economy.

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Credit ratings agencies, the CBI - they're all spinning like mad. Basically, they're spinning to support the government's resolve to cut. This is political, political, political...

London gets more public spending per head than anywhere else in Britain - it will get hit bad.

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'The CBI insists its unemployment outlook is based on the Government fostering private sector growth with "sensible" decisions on how it cuts and where it invests.'

can't see a flaw in the logic.

"Cut our taxes and subsidise our businesses and we'll give the boy a shoeshine job!"

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Further proof that the CBI exists outside the realms of reality. What about the public sector cuts which have yet to fall.???

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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