Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

U K Manufacturing Job Losses Reach Alarming Rate

Recommended Posts

http://www.mirror.co.uk/mirrormoney/yourmo...-name_page.html

27 July 2006
ENERGY CRISIS
Edited By Clinton Manning
MANUFACTURERS have axed 25,000 jobs in the past three month
s to cope with spiralling energy costs, new figures show. This takes the total number of job losses for the past year to 108,000.

The last three HPCs all came when energy spiked. Here we go, here we go, here we go........

http://www.accountancyage.com/accountancya...assmaker-enters

Glassmaker tumbles into administration
Deloitte partners act as joint administrators at Edinburgh Crystal Glass
Kevin Reed, Accountancy Age, 26 Jul 2006
Administrators from Deloitte have been appointed at Edinburgh Crystal Glass.
John Reid and Ian Brown are acting as joint administrators to the glassmaking company, based in Penicuik.
A lack of consumer demand and a failure to sell the business led to the appointments, said Reid.
The company employs 420 staff across the country in 14 factory outlets and 77 department stores.
Edited by Realistbear

Share this post


Link to post
Share on other sites

The last three HPCs all came when energy spiked. Here we go, here we go, here we go........

Did they 'fiddle' the inflation figures last time?

This could be a new public PR move by govenments to ease/fool people into accepting higher real inflation environments

It's a lot more 'subtle' than moving interest rate figures - the public understands that!!

Edited by dnd

Share this post


Link to post
Share on other sites

Did they 'fiddle' the inflation figures last time?

This could be a new public PR move by govenments to ease/fool people into accepting higher real inflation environments

It's a lot more 'subtle' than moving interest rate figures - the public understands that!!

As unemployment accelerates the government will certainly use that to cap wages and at the same time move the goal posts for inflation. Sounds like the dreaded stagflation economy may be next.

One thing is for certain, without jobs the economy and house prices are going nowhere but down.

http://business.guardian.co.uk/story/0,,1830958,00.html

The CBI said the workforce would be cut by 23,000 in the third quarter of 2006, compared with a cut of 25,000 in the second quarter. In the past year, industry has lost 108,000 jobs, the CBI said.
"Domestic orders remain sluggish, and it is unlikely that the current strength in the global economy will continue into 2007," said Ian McCafferty, the CBI chief economic adviser....../
Paul Dales, economist at Capital Economics expressed concern about the industry's outlook.
"We think that manufacturers' optimism towards the world economy may be misguided, as the latest news suggests that activity in the US economy has started to slow, while the recent rise in the pound against the euro could stifle demand from the eurozone.
"As such, we would not be too surprised to see industrial conditions weaken over the course of the next year or so."
Edited by Realistbear

Share this post


Link to post
Share on other sites

For reference...

Wikipedia Stagflation definition

http://en.wikipedia.org/wiki/Stagflation

The first option suggested in the defintion to counteract stagflation...

"...the bank can choose to pursue a loose money policy to stimulate the economy and create jobs by increasing the money supply (by lowering interest rates) "

The second option suggested...

"...a tight money policy (by increasing interest rates) to try and rein in inflation at the cost of perhaps increasing unemployment further"

However, if we take the first option and growth/jobs pick up again - were heading for hyperinflation...

Edited by dnd

Share this post


Link to post
Share on other sites

This report from the Beeb on the UK trade deficit.

Britain's trade deficit with the rest of the world has risen again, according to the latest official figures. The Office for National Statistics said the UK imported £4.4bn ($8bn) worth of goods more than it exported in November, up from £4.25bn in October.

In the past three months the UK has a record trade deficit of £13.2bn.

It was "another poor set of trade data," according to Geoffrey Dicks of RBS financial markets.

Liberal Democrat trade spokesman Malcolm Bruce warned of the

"imbalance in the British economy."

"There is a continued decline in the manufacturing industry, combined with the inability of services and tourism to close the gap. The UK's economy is now heavily dependent on property inflation to maintain its momentum. This is an very unhealthy state of affairs."

BBC Jan 2004

That’s from January 2004, so what’s happened in the intervening 2 ½ years? Well its getting worse.

UK Trade

Deficit widened to £4.4bn in May 2006

The UK’s deficit on trade in goods and services was £4.4 billion in May, £1 billion higher than in April (previously published as £4.0 billion).

The surplus on trade in services was £2.3 billion in May, £0.2 billion higher than in April.

The deficit on trade in goods in May was £6.8 billion, compared with a deficit of £5.6 billion in April (previously published as £5.8 billion).

Trade Deficit

Manufacturing employment continues to fall, consumer debt grow, etc. The words ho and hum spring to mind. :unsure:

Share this post


Link to post
Share on other sites

Its not just the trade deficit that is growing but alos the government spending deficit. We now have growing "evil twins." The price, no doubt, we are going to pay for Gordon's Miracle Economy based on HPI-MEW and not much else.

House prices (opinion) do not add to wealth they just pile on debt.

Share this post


Link to post
Share on other sites
Glassmaker tumbles into administration
Deloitte partners act as joint administrators at Edinburgh Crystal Glass
Kevin Reed, Accountancy Age, 26 Jul 2006
Administrators from Deloitte have been appointed at Edinburgh Crystal Glass.
John Reid and Ian Brown are acting as joint administrators to the glassmaking company, based in Penicuik.
A lack of consumer demand and a failure to sell the business led to the appointments, said Reid.
The company employs 420 staff across the country in 14 factory outlets and 77 department stores.

Bl**dy hell, I have a pile of relatives who live near Penicuik, even though I'm in Australia. I visited some of them only 3 months back.

That's not an area where there's a lot of money at the best of times; a couple of hundred jobs going will have a real impact :( .

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.