Housepricecrash91 Posted February 8 Share Posted February 8 I've not seen the job market this bad in quite some time, I think it could be kaput for the UK soon. The market is good if you want to be paid £25k per year, but mid-senior roles have dried up... Not good, people who've signed up to a £2.5k per month mortgage will be sweating in the coming months... wondering when their company will be pulling the trigger on redundancies. Even if they survive the first wave, the second wave will follow the next quarter, and then the third wave the quarter after that. Just get another job I hear? Well you can't service a £2.5k mortgage and leased BMW on a £25k per year salary This could have all been avoided with some foresight! Quote Link to comment Share on other sites More sharing options...
mynamehere Posted February 8 Share Posted February 8 23k is minimum wage. We've done brexit, inflation, interest rates. Now all the chips are on labour market which is still tight by historial standards so that's a desperate bet Quote Link to comment Share on other sites More sharing options...
fellow Posted February 8 Share Posted February 8 KPMG Feb 2024: Sustained and sharp drop in permanent placements Starting salary inflation softens to 34-month low in January https://kpmg.com/uk/en/home/media/press-releases/2024/02/kpmg-and-rec-uk-report-on-jobs-february-2024.html Quote The latest survey of recruitment agencies across the UK revealed a further drop in hiring activity at the start of 2024, particularly for permanent workers. Notably, permanent staff appointments fell at a sharp and accelerated pace, while temp billings fell only slightly. Although starting salary inflation remained sharp in January, the latest increase in pay was the softest recorded since March 2021 and slower than the series average Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 8 Share Posted February 8 I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday. It's booming for the right people in the right place. ✓✓✓ Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted February 8 Share Posted February 8 26 minutes ago, Stewy said: I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday. It's booming for the right people in the right place. ✓✓✓ Congrats! Chief Humility Officer? Quote Link to comment Share on other sites More sharing options...
Blobsy Posted February 8 Share Posted February 8 9 minutes ago, Unmoderated said: Congrats! Chief Humility Officer? It’s amazing how the chips always fall in place for Stewy, almost as if he’s making it all up. Quote Link to comment Share on other sites More sharing options...
fellow Posted February 8 Share Posted February 8 36 minutes ago, Stewy said: I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday. It's booming for the right people in the right place. ✓✓✓ And if you're the wrong people in the wrong place? Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 8 Share Posted February 8 13 minutes ago, fellow said: And if you're the wrong people in the wrong place? Move. 15 minutes ago, Blobsy said: It’s amazing how the chips always fall in place for Stewy, almost as if he’s making it all up. Positive thinking brings its own rewards. ✓ Quote Link to comment Share on other sites More sharing options...
HousePriceTooHigh Posted February 8 Share Posted February 8 It is kind of nuts that min wage will be 23-24k full time this coming tax year.... And yet plenty of jobs requiring qualifications, a degree, whatever barely pay much more than that If I was some fresh uni grad at -50k net worth and my grad job was 25k i'd be fuming…........ Quote Link to comment Share on other sites More sharing options...
wighty Posted February 8 Share Posted February 8 1 hour ago, Stewy said: I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday. It's booming for the right people in the right place. ✓✓✓ So your previous employer realised what a clunker you were and got shot of you?. Quote Link to comment Share on other sites More sharing options...
burk Posted February 8 Share Posted February 8 5 minutes ago, wighty said: So your previous employer realised what a clunker you were and got shot of you?. 🤣 Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted February 8 Share Posted February 8 Totally unexpected too 😆 I think the speed of economic decline is going to surprise many in the chattering clases/ media. Though probably not anyone following non-mainstream sources, regular people dealing in the thick of getting on in the real World or anyone capable of critical thinking for that matter. This could be a system crashing event as the whole thing has been flogged so hard to the point where there can't be many more rabbits to pull out of that hat ..... War, I guess, is the traditional way of dealing with it. Lucky geopolitics is so stable at the moment .... 🫢 Quote Link to comment Share on other sites More sharing options...
burk Posted February 8 Share Posted February 8 1 hour ago, Housepricecrash91 said: I've not seen the job market this bad in quite some time, I think it could be kaput for the UK soon. The market is good if you want to be paid £25k per year, but mid-senior roles have dried up... Not good, people who've signed up to a £2.5k per month mortgage will be sweating in the coming months... wondering when their company will be pulling the trigger on redundancies. Even if they survive the first wave, the second wave will follow the next quarter, and then the third wave the quarter after that. Just get another job I hear? Well you can't service a £2.5k mortgage and leased BMW on a £25k per year salary This could have all been avoided with some foresight! Met a mate for pint beginning of the week who's a site manager, he reckons construction is done at present, site he's on is finishing up end of this month, the other two sites that were to come out the ground this year are on hold. Not looking good..... #stewysachatboticlaimmyfivepounds Quote Link to comment Share on other sites More sharing options...
VancouverGuy Posted February 8 Share Posted February 8 Steady on there gents .... the UK unemployment rate is still at effectively "full employment". Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted February 8 Share Posted February 8 Cobblers. The job market is contracting slowly. The hyperbole on this site is risible. Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted February 8 Share Posted February 8 2 hours ago, Housepricecrash91 said: I've not seen the job market this bad in quite some time, I think it could be kaput for the UK soon. The market is good if you want to be paid £25k per year, but mid-senior roles have dried up... Not good, people who've signed up to a £2.5k per month mortgage will be sweating in the coming months... wondering when their company will be pulling the trigger on redundancies. Even if they survive the first wave, the second wave will follow the next quarter, and then the third wave the quarter after that. Just get another job I hear? Well you can't service a £2.5k mortgage and leased BMW on a £25k per year salary This could have all been avoided with some foresight! Yep. Discretionary spending is going to fall off a cliff. Tech sector and people in marketing/advertising are going to suffer the most along with restaurant and pub industry. Industries connected to housing such as builders, carpenters, plasterers, estate agents, furniture stores, carpet stores and Painters & decorators are also going to see work dry up. Already seeing posts on social media of traders with 20 years experience + claiming they have never seen demand for their services this bad. Many including the politicians (and the BOE) are going to be completely unprepared for what is coming. Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 8 Share Posted February 8 40 minutes ago, wighty said: So your previous employer realised what a clunker you were and got shot of you?. I'd put in loads of systems and processes so they thought they could replace with a few grads instead. It'll be fine for 12-24 months... And then... 🫢 Quote Link to comment Share on other sites More sharing options...
Housepricecrash91 Posted February 8 Author Share Posted February 8 59 minutes ago, HousePriceTooHigh said: It is kind of nuts that min wage will be 23-24k full time this coming tax year.... And yet plenty of jobs requiring qualifications, a degree, whatever barely pay much more than that If I was some fresh uni grad at -50k net worth and my grad job was 25k i'd be fuming…........ Yep, it's crazy. University is a complete con. It was ok at £1k or £3k per year... as you got a decent paid job at the end of it that would easily pay for a home. Now it's £9k per year and they don't write off the debt until you're 60 years old+.... it's just not a good option. Not with the current tax thresholds and cost of living... I suspect we'll see £12k-£15k per year fees in 5 years time. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted February 8 Share Posted February 8 (edited) I've noticed - and it's about time, house prices are an increasingly smaller facet of the overall issue - that more and more of the chatter on here is about the job market from the perspective of taxation, the philosophy of truly being rewarded for work, people increasingly looking for ways to optimise for their circs (benefits, part time, salary sacrifice) etc. The compression of the value of money for hours worked in relation to lifestyle is reaching absurdly low levels. The 'tax avoiders r us' manifesto will be written here hopefully. Stewy's plausibly fake new job on £200k a year don't impress me much. He might be crowing but I'd wager his lifestyle is barely better than a low level BT engineer of 30 years ago and probably with worse pension provision. Edited February 8 by Frugal Git Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted February 8 Share Posted February 8 2 hours ago, Stewy said: I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday. It's booming for the right people in the right place. ✓✓✓ MPC rate setter? Remember you only get one vote...... Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted February 8 Share Posted February 8 1 hour ago, HousePriceTooHigh said: It is kind of nuts that min wage will be 23-24k full time this coming tax year.... And yet plenty of jobs requiring qualifications, a degree, whatever barely pay much more than that If I was some fresh uni grad at -50k net worth and my grad job was 25k i'd be fuming…........ Borrowing 50k to go to "Uni" was always going to end in tears, there are far too many people at Uni, it is absurd and not even funny any more, the young are being conned on all fronts now. Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted February 8 Share Posted February 8 2 hours ago, Stewy said: I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday. It's booming for the right people in the right place. ✓✓✓ 20k is 12% increase? So you were on 160k a year? And now on 180k per year. Your income is so high it is - literally - off the charts? Well, you have to pay for all the emojis somehow, I guess. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted February 8 Share Posted February 8 45 minutes ago, The Angry Capitalist said: Yep. Discretionary spending is going to fall off a cliff. Tech sector and people in marketing/advertising are going to suffer the most along with restaurant and pub industry. Industries connected to housing such as builders, carpenters, plasterers, estate agents, furniture stores, carpet stores and Painters & decorators are also going to see work dry up. Already seeing posts on social media of traders with 20 years experience + claiming they have never seen demand for their services this bad. Many including the politicians (and the BOE) are going to be completely unprepared for what is coming. Many will be younger, maybe renting or recent mortgage, many will end up back at parents IMO, and they will be partying and travelling less so double whammy on BTL/AirBnB? Quote Link to comment Share on other sites More sharing options...
shlomo Posted February 8 Share Posted February 8 2 hours ago, Sour Mash said: Totally unexpected too 😆 I think the speed of economic decline is going to surprise many in the chattering clases/ media. Though probably not anyone following non-mainstream sources, regular people dealing in the thick of getting on in the real World or anyone capable of critical thinking for that matter. This could be a system crashing event as the whole thing has been flogged so hard to the point where there can't be many more rabbits to pull out of that hat ..... War, I guess, is the traditional way of dealing with it. Lucky geopolitics is so stable at the moment .... 🫢 I think certain sectors are going to haemorrhage jobs, certain service sector jobs will be gone forever Quote Link to comment Share on other sites More sharing options...
deerohdeer1 Posted February 8 Share Posted February 8 2 hours ago, VancouverGuy said: Steady on there gents .... the UK unemployment rate is still at effectively "full employment". As much as there is some hyperbole on this thread I wouldn't describe 10,000,000 18-64 that are economically inactive as 'full employment' buddy. Quote Link to comment Share on other sites More sharing options...
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