Monday, February 11, 2008
What happens when the jobs dry up?
Official figures from the Labour Force Survey show that the number of foreigners in the UK workforce increased between 2001 and last year by 864,000 - to just over two million people. This is equivalent to one in 14 of a total working population. By contrast the number of UK-born nationals in the workforce fell, between 2001 and 2007, down by 500,000 from 24.4 million in 2001 to 23.9 million last year. This could be a serious downward pressure on prices when the recession really starts to bite and most of them head off home.