Recession and job losses could start in months, say bosses

Britain is on the verge of a recession and the number of permanent job vacancies is falling, two reports warn today.

 
The British Chambers of Commerce describes the outlook as 'grim' and warns that a recession could start within months. 

It says it has uncovered evidence of a 'menacing deterioration' in the economic outlook. Another report, from the accountants KPMG, shows that the number of permanent job vacancies fell in June for the first time in five years.

The number being put into permanent jobs by recruitment agencies fell at its
sharpest rate in more than five years. The British Chambers of Commerce also said it fears for workers' jobs over the next 18 months, predicting up to 300,000 could be affected. 

This is equal to 550 losing their jobs every day, including weekends, by the end of 2009. 

David Frost, director general of the business lobby group, said there is 'a real risk of recession in the coming months'. He said: 'The outlook is grim. We believe that the correction period is likely to be longer and nastier than anticipated.' 

Nearly 5,000 firms took part in the research for the BCC report. Low unemployment has been a feature of recent years, but official figures have started to show that the jobless total is beginning to increase. 

The number who do not have a job - but want to work - jumped 38,000 to 1.64million in the three months to the end of April. 

The KMPG report, published jointly with the Recruitment and Employment Confederation, said there is worse to come. 

Alan Nolan, director of KPMG, said: 'This really is a sobering set of figures proving the credit crunch has finally taken its toll and is now severely weakening the UK jobs market. 

'Many employers now seem to be accepting the inevitable - they will have to cut costs by laying off people because their businesses won't be growing as much as they could have expected a couple of months ago.' Thousands of redundancies in the City and the housebuilding sector are just the start, he added. continues here

But lets keep importing immigrants shall we, because the British worker doesn’t matter, lets saturate a diminishing job market with cheap labour, lower wages, place more pressure on housing and undermine our whole infrastructure.

Related Posts by Categories