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Unemployment Will Not Fall For Two Years, Warns Cbi

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http://www.telegraph.co.uk/finance/economics/8311990/Unemployment-will-not-fall-for-two-years-warns-CBI.html

The business lobby group expects Britain’s unemployment rate to jump from 7.9pc last year to 8.4pc this year and remain unchanged in 2012, as private sector recruitment struggles both to offset public sector job losses and accommodate new entrants into the labour market.

Official forecasts from the Office for Budget Responsibility (OBR) are for UK unemployment to peak at 8pc this year and fall to 7.7pc in 2012.

John Cridland, CBI director general, added that he still believes the private sector will be able to deliver enough jobs to offset the 410,000 public sector job cuts over the next five years, but that the increase in employment will be skewed towards the later years of the austerity programme.

“There are issues about regional employment and timing, but overall we still believe it is an achievable task,” he said. The CBI does not produce forecasts more than two years ahead.

The CBI’s concerns on jobs follow the former director general Sir Richard Lambert’s attack on the Government’s failure to articulate a strategy for growth. Mr Cridland reiterated that a clear strategy is needed and that he is confident the Coalition is “redoubling its efforts”.

I wonder what this will do to Treasury tax revenue projections? I bet they have a far more rosy employment scenario with all of those working bringing in plenty of tax revenue.

The other problem is that if 2012 sees larger Uni fees coming in we could see a big jump in youth unemployment, which is why I think there is a rush to create lots of apprenticeships especially in areas where they are needed like shelf stacking.

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Well the lobby group have been lobbying for cheap displacement migrant labour and now they are coming up with a warning about persistent levels of unemployment. Nice.

The CBI lobbied for a deacde for ultra low rates. Productivity has been poor, investment poor and displacement of jobs both internally and offshore has rocketed and debt destroyed the income and spending/investment capability of the vast bulk of the population.

Another group to put on the ignore list.

Still, the boardrooms have done well.

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a rush to create lots of apprenticeships especially in areas where they are needed like shelf stacking.

You can't get good shelf stackers these days, even when there's 100s of applicants for the job. I suggest the invention of the Tesco University, so that only the most skilled shelf stackers will be hired. This university will train people up to stack shelves at three times the speed of a normal lazy British worker.

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The trigger for a housepricecrash of devastating proportions: job losses.

Sadly, unemployment is a lagging indicator and it will probably be a few months before carnage in the property market really begins. Stubborn sellers: get your boots on and reduce 20% now or reduce 40% later.

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You can't get good shelf stackers these days, even when there's 100s of applicants for the job. I suggest the invention of the Tesco University, so that only the most skilled shelf stackers will be hired. This university will train people up to stack shelves at three times the speed of a normal lazy British worker.

My wife was talking to another parent the other day. Her daughter had applied for a Saturday job (a day and a half tops as still at school). Something like one telephone interview, one group interview and than one personal interview.

Anyway just lost due to to cutting back costs - knocked her confidence - totally counter to what the original intention was in getting the job in the first place.

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My wife was talking to another parent the other day. Her daughter had applied for a Saturday job (a day and a half tops as still at school). Something like one telephone interview, one group interview and than one personal interview.

Anyway just lost due to to cutting back costs - knocked her confidence - totally counter to what the original intention was in getting the job in the first place.

All those interviews just for a Sat job!!! Was this for a major chain as well?

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  • 284 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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