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Employment Fears Grow

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LONDON (ShareCast) - Concerns about job security grew for the fifth month in a row during July, according to a new survey from Lloyds TSB Corporate Markets.

Its latest Consumer Barometer revealed that some 57% of consumers worry that employment prospects are worse than they were a year ago, 12% more than in June.

That's the worst figure since the 2,000-people survey started in 2004.

But there's also been a sharp decline in job security , with the balance of consumers feeling more rater than less secure at -17%, down from -14% a month earlier.

Consumers also think prices will keep rising over the next 12 months, believing inflation will hit 4.8% versus just 4.7% in June. Interest rates are also going higher say 66% of respondents.

"The combination of falling employment confidence and rising inflation expectations is a lethal cocktail for consumer spending," said chief economist at Lloyds TSB Corporate Markets Trevor Williams.

"The survey results suggest that spending growth is likely to slow sharply in the months ahead. If people don't feel safe in their job and high prices are putting incomes under pressure then demand for discretionary purchases will naturally slow."

Why is it that all the pundits said "the fundamentals are strong, low inflation, low interest rates, full employment mean the housing market is secure", when the average joe bloggs on here knew it was the other way round? :rolleyes:

Edit for spelling

Edited by crash_bang_wallop

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when the avergae joe blogg on here knoew it was the other way round? :rolleyes:

don't know if this is true or not I frequent 3 different forums, and everybody seems to be taking the government line else they are in heavy denial , I was slated yesterday by this person who bought at the peak at £88,000 and was told by an estate agent he could sell it in a week for £125K.

Completely forgetting that its not a done deal till the money is in your hand...

Or that rents were increasing massively everywhere , completely forgetting supply...

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Because politicians are delusional.

true, true , I think a big problem is we have something called the House of Commons , yet it is filled with people who are anything but.......

now if only we could do what that ex tory did a few years back ie live as an ordinary person for 2 weeks on an ordinary person's income, Micheal portillo or something.

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don't know if this is true or not I frequent 3 different forums, and everybody seems to be taking the government line else they are in heavy denial , I was slated yesterday by this person who bought at the peak at £88,000 and was told by an estate agent he could sell it in a week for £125K.

Completely forgetting that its not a done deal till the money is in your hand...

Or that rents were increasing massively everywhere , completely forgetting supply...

Oh, I agree the general public are just waking up to the problem ... their eyes are taking the first tenuous flutter. However I did say "average joe bloggs on here".

The general public are as delusional as the politicians.

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now if only we could do what that ex tory did a few years back ie live as an ordinary person for 2 weeks on an ordinary person's income, Micheal portillo or something.

Matthew Paris MP lived on unemployment benefits for a week, I think thats the one you mean.

VMR.

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portillio spent a week with a single mum or something.

The things we force our MPs to do to hide their homosexuality.

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  • 396 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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