Wednesday, Sep 02, 2015

More green shoots....UK heading for low wage, low growth and high debt

Mail: Number of people with a zero-hours contracts jumps by a fifth in a year and 40% want to work more

The number of people who say they have a zero-hours contract has jumped by a fifth in a year, new figures showed today.
The Office for National Statistics said 744,000 have a deal which does not guarantee any hours, with 40 per cent saying they would like more work.

Posted by hpwatcher @ 12:04 PM (4596 views)
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4 Comments

1. hpwatcher said...

The phoney UK recovery is beginning to creak - one the slowdown in China becomes apparent, UK growth will follow.

Wednesday, September 2, 2015 11:05AM Report Comment
 

2. mombers said...

Will be interesting to see what effect the new National Minimum Wage will have. I reckon job losses will be minimal but expect to see perks like staff discounts, etc to be scaled back.
On the NLW, I am flummoxed as to why they didn't just scrap NICs on minimum wage? Such a joke that someone earning c. 7500 p.a. (or less in some cases as it is charged weekly and non refundable unlike income tax) gets hit with over 20% employer and employee NICs while someone getting 11k of unearned income pays nothing.

Wednesday, September 2, 2015 01:00PM Report Comment
 

3. icarus said...

"Lord Lucan" - 7th comment down, says:

The UK recovery is fake, just as the job figures. My contacts, acquaintances and friends in the city all think the same. They all carry on trading as it's how they make big money, but they all say it will end in tears and on a global scale.

Wednesday, September 2, 2015 02:10PM Report Comment
 

4. hpwatcher said...

The UK recovery is fake, just as the job figures. My contacts, acquaintances and friends in the city all think the same. They all carry on trading as it's how they make big money, but they all say it will end in tears and on a global scale.

Not just the UK. But this is the view that is now gathering momentum. I expect it to fully crystallize around October this year. The propaganda of the banks and what they will do, by way of a response, will likely be the beginning of the end.

Wednesday, September 2, 2015 05:38PM Report Comment
 

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