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Sharp Rise In Unemployment Expected

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http://www.bbc.co.uk/news/business-12445050

Redundancies are set to rise sharply in the next few months as public sector cuts bite, a survey has suggested.

The Chartered Institute of Personnel and Development study found redundancy intentions with employers were at their highest level since it began in 2004.

Four out of 10 organisations planned redundancies in the first quarter of this year, the survey discovered.

These included one-third of NHS employers, half of central government and three-quarters in local government.

The organisations affected typically proposed to cut around one in 10 employees, increasing to one in eight in the public sector.

Time of reckoning

But there is hope that job creation in the private sector will bring some relief elsewhere.

The institute's policy advisor Gerwyn Davies described the next few months as a "quarter of reckoning" for the jobs market and a relapse from the recent recovery.

He said it was encouraging that private sector employment was expected to keep growing, but nonetheless the institute believed unemployment would continue climbing until 2012.

BBC employment correspondent Martin Shankleman says the survey captures the moment when many job losses threatened across the economy seem about to become reality.

UK unemployment rose by 49,000 to almost 2.5 million in the three months to the end of November, according to the latest Office for National Statistics figures.

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More redundancies means more volunteers as paid work goes out of fashion. There'll be so many people working for £0 per hour that the government will be able to put the minimum wage for those who are paid up to £100 per hour! :lol:

Edited by Hyperduck Quack Quack

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But there is hope that job creation in the private sector will bring some relief elsewhere.

I HOPE that I win the lottery. I HOPE that it will be sunny today. I hope that I reach the age of 100 in good health. I hope these people don't have a conscience ...

These people are fools :lol:. NOBODY is going to take up the slack ...

Edited by Home_To_Roost

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More job losses are clearly in the pipeline, the wife's work is seeking to cut 10% of it's workforce over the coming months as funding is drying up.

I'm just relieved we have a recovery, it would be horrendous otherwise....

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I HOPE that I win the lottery. I HOPE that it will be sunny today. I hope that I reach the age of 100 in good health. I hope these people don't have a conscience ...

These people are fools :lol:. NOBODY is going to take up the slack ...

Demand and growth are elastic. People create jobs..... etc etc.

Just like house prices, growth only ever goes up!!

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Has the State been "crowding out" the private sector.

Will the mere removal of some of the public sector actually stimulate some private sector growth in itself..... or is something else more required to do that?

Don't think so, it's been creating artifical markets by funding various programmes which come with jobs (capital development projects, social projects, social care programmes). When the funding stops these stop.

This idea of private sector job creation stepping into the breach is fanciful, there may be a few low paid / volunteer posts arising.

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Do you believe 'necessity is the mother of invention'?

Or that if private sector companies are now able to recruit better people that they will do better and create more jobs?

I've been on the receiving end of the grant sweetie machine (though just missed out on £250k for a side project <_< ) a lot of it is not about necessity, it's creating vanity schemes that tick boxes. Obvious examples are the Sheffield museum of rock and the Doncaster energy park (IIRC, not going to hunt up the links). Vast public subsidy, lots of jobs created during construction, both closed as nobody was actually interested. Money sucked out of the economy and just splurged. There's not a lot of necessity there.

I agree with your latter point, outside of the big cities if you want the best salary go public sector. I have and when I look for jobs I only really look public sector as they all pay more, they just don't reflect the local market rate.

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Do you believe 'necessity is the mother of invention'?

Or that if private sector companies are now able to recruit better people that they will do better and create more jobs?

the problem is that most of the population have no idea how their 35K jobs are funded.

How many things have to be created to produce 35K of excess value.

people see the numbers, but not the reality beyond the numbers.

so your ex NHS exec decides to start a sandwich bar. He has the skills to manage a team, to run the admin of the kitchen, to clean the tables to do the entire thing...

but, to earn even 25k average...thats a fracking lot of sandwiches.....

still, he can afford to take no wage for 4 years...his 100K payoff will be put to good use, Im sure.

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  • 311 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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