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City Braces Itself For 10,000 Job Cuts

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http://business.timesonline.co.uk/tol/busi...icle3568789.ece

The City could be facing up to 10,000 job cuts, an economic think tank has warned – an estimated 54 per cent higher than the same group predicted just three months ago.

The Centre for Economic Business Research (CEBR), which publishes economic forecasts twice a year, predicted three months ago there would be around 6,500 job losses. It now fears this could increase to between 8,000 and 10,000 when it publishes new data next month.

CEBR chief executive Doug McWilliams stressed the figure is an estimate, and could change again.

The economic research group bases its predictions by monitoring levels of activity in the City - volumes of transactions on the stock exchange, numbers of mergers and acquisitions and private equity deals - and then estimates how many jobs would be needed to keep those levels going.

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The City could be facing up to 10,000 job cuts, an economic think tank has warned – an estimated 54 per cent higher than the same group predicted just three months ago.

The Centre for Economic Business Research (CEBR), which publishes economic forecasts twice a year, predicted three months ago there would be around 6,500 job losses. It now fears this could increase to between 8,000 and 10,000 when it publishes new data next month.

Standard crap from a "economic think tank" always behind the curve , they say 10,000 , truth is they havn't got a clue they know there be job losses so they just pluck a number from out of the air .

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I blame it on that new series "Ashes to Ashes" set in the 80s.

Who'd have thought that braces would make a come back in the city?

Or adult incontinance pads- in red?

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IMO, the great City job cull will lead to at least 100k jobs lost before next winter sets in. This will in turn drop house prices in the commuter belt by at least 20-30% this year alone.

Brown built the miracle on the back of financial services. The "new paradigm" or miracle economy. Guess what sector is being hit hardest?

I am now virtually 100% convinced that we are entering into the Big One now and there will be no bounce back until the storm has done its damage and long protracted rebuilding begins. Under a new government and with an entirely different attiotude to that which still prevails on the front benches of NuLabour: SO WHAT?

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Guest vicmac64
IMO, the great City job cull will lead to at least 100k jobs lost before next winter sets in. This will in turn drop house prices in the commuter belt by at least 20-30% this year alone.

Brown built the miracle on the back of financial services. The "new paradigm" or miracle economy. Guess what sector is being hit hardest?

I am now virtually 100% convinced that we are entering into the Big One now and there will be no bounce back until the storm has done its damage and long protracted rebuilding begins. Under a new government and with an entirely different attiotude to that which still prevails on the front benches of NuLabour: SO WHAT?

Thats my reading of the situation as well - this time the cat is out of the bag and NOBODY trusts the banks or the Markets.

The UK will change and change rapidly - though I would caution it is very possible they will have an alternative in the wings - one that I dont want at any cost but my guess is the deeply indebted slaves of the US and UK will accept a solution no matter the cost..... and therein lies the problem.

Democracy has been effectively destroyed by debt and debt slavery.

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IMO, the great City job cull will lead to at least 100k jobs lost before next winter sets in. This will in turn drop house prices in the commuter belt by at least 20-30% this year alone.

Brown built the miracle on the back of financial services. The "new paradigm" or miracle economy. Guess what sector is being hit hardest?

I am now virtually 100% convinced that we are entering into the Big One now and there will be no bounce back until the storm has done its damage and long protracted rebuilding begins. Under a new government and with an entirely different attiotude to that which still prevails on the front benches of NuLabour: SO WHAT?

Uncle Monty was pretty relaxed that he could still sell his three quarters of a million city pad.But that was last week.

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You cannot tell to people in one fell swoop that the entire model for the post industrial economy has just gone up in smoke . You have to break the news in stages. Standby for the next report which will say 20,000 jobs.

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Incidentally, do you know how they count contractors and temporary workers? Being the former myself!

I've noticed that there appear to be *more* contracting jobs, presumably because they get rid of permies, to replace with temp workers they can chop and change with more flexibility.

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  • 293 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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