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HireScores.com Recruitment ForumForum CommunityNews & Information (Moderator: Forum Management)Labour Market Monitor Highlights Severity Of Jobs Squeeze
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« on: January 28, 2009, 12:07:54 PM »

The latest quarterly CIPD/KPMG Labour Market Outlook (LMO) published recently, finds that net job creation is at a virtual standstill in the UK with employers extremely gloomy about prospects for the economy.

According to the survey of 721 employers – conducted in September by Ipsos MORI – the balance between the proportion of employers expecting to increase staff  levels in the following three months and those expecting to cut staff has plunged from +41 in Autumn 2007 to just +2 in Autumn 2008. This is by far the lowest figure recorded since the LMO survey began in spring 2004.

The marked decline in the demand for labour reflects profound employer pessimism on the economic outlook. More than four in five employers (83%) responding to the survey expected the economic condition of the UK to deteriorate this autumn - with only 1% expecting things to get better – though respondents were somewhat more optimistic about the outlook for their own organisation (only 25% expecting things to get worse).

Meanwhile, pay pressure is set to continue to be subdued. Staff pay, excluding bonuses, is expected to increase on average by 3.5% at the time of employers’ next pay reviews – slightly lower than the expectation of a 3.7% average increase recorded in the summer LMO survey. However, the expected average increase including bonuses has risen from 3.9% to 4%.

Commenting on the latest LMO findings CIPD Chief Economist, John Philpott, says: “The year since the impact of the credit crunch was first felt saw the UK labour market move from a state of buoyancy to one of stagnation. We are now at the start of a period of contraction, with jobs being lost, new jobs hard to come by and, as this week’ official statistics are set to confirm, unemployment on an ever sharper upward rise. With pay increases at best modest for those still in work the harsh chill of recession will make this the toughest winter for UK households for almost two decades.”       

Andrew Smith, KPMG Chief Economist says: "While the pressures on business to control spending - both on staff and in other areas - are real and intensifying, there has to be a balance between cutting costs now and the risk of lasting damage to the business through inadequate investment for the longer term.
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Robin Tetley
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« Reply #1 on: January 28, 2009, 03:23:21 PM »

It says in this piece that this will be "the toughest winter for UK households for almost two decades". Far be it from me to be cynical about the media but it strikes me as just a tad "doomy and gloomy". I'm sure this will/is the toughest winter FOR SOME PEOPLE for two decades but certainly not everyone. Unless we believe to the letter what we read of course.

Discuss?
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« Reply #2 on: January 31, 2009, 02:54:52 PM »

Most people I come into contact with seem to be having it pretty bad.
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« Reply #3 on: February 02, 2009, 07:35:54 PM »

I also know people who have it bad too.  I have family members and friends who are aching for a job and are willing to take a lower paying job for income.   The problem is there are too many people applying for the same job, which makes it even more difficult.

In fact, there a job fair where I live and there were so many people looking for work that the lines were stretched out the door!  When will there be jobs?
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« Reply #4 on: February 03, 2009, 09:35:45 AM »

Things are bad. I know where my Mother in Law works many people in one department (I think maybe twelve or so people) were told yesterday there jobs were going to turn into one job and everybody now has to re-apply for that job. Some of them have been working for the company years.
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« Reply #5 on: February 03, 2009, 08:33:37 PM »

I was watching the news and a fire company was firing 35 fire fighters.  There were thousands of men applying for the job.  In fact, they were forming a line the night before! 

I'm afraid the economy will fall into a depression.  Do you think it's possible or am I being too paranoid?
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« Reply #6 on: February 04, 2009, 11:49:41 AM »

I tend to agree with you Jenna. This might seem a silly question but is there a definition of a depression? Economically speaking of course? I know about the great depression in the thirties but when it comes to recession a countries economy needs to have not grown for two consecutive quarters (I think that's the correct definition anyway - I may be wrong). How do we know, or define, when we are in a depression?
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« Reply #7 on: February 04, 2009, 07:27:43 PM »

The dression happened in 1929 and the unemployment rate was in the double digits.  I don't think we'd ever seek into a depression.  There seems to be too many government safe guards to combat this from ever happening again.

The economy is looking grim.  I'm hoping the government will be able to pull us out of it. 

Has anyone changed their spending habits lately?

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« Reply #8 on: February 05, 2009, 01:10:23 PM »

I haven't changed my spending habits particularly, though in a rather alternate universe (with quite a few debts) we are desperately trying to get that savings buffer built up that cropped up in another discussion here recently. Whether after a few months we use that money towards paying off debts (which seems the only sensible thing to do - how can you honestly save when you're in debt?) I don't know but either way, it's money we could have spent on entertainment or going out etc.
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« Reply #9 on: February 05, 2009, 04:32:00 PM »

I have. I don't go out as much as I used to and I'm more aware too of what I have in my pocket and how long it has to last me. I'm definitely spending less than before Christmas.
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« Reply #10 on: February 06, 2009, 05:52:06 AM »

I used to spend tons of money when I graduated from college.  I had no value for money and if I wanted a new car radio, CD, speakers, clothing, I bought it with no hesitation.  It wasn't until I got older that I realized money doesn't grow on trees and you need to save! 

Today I am very thrifty and will buy when items are on sale or will look online for deals.  I suppose wisdom comes with age  Grin
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« Reply #11 on: February 07, 2009, 11:49:16 AM »

I think that's true about wisdom coming with age. It's a bit of a shame really because so many people get into a financial mess in their teenage years and twenties and then spend the rest of their lives trying to get out of it.
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« Reply #12 on: February 07, 2009, 04:46:11 PM »

Robin I agree with you.  When your younger you make mistakes that you regret.  One of the things I regret was going to an expensive college and taking out student loans.  Today I am paying tons of money every month and it will be years till I'm debt free. 

Today I would have went to a cheaper college and changed my major.  I might have a better job today. 
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« Reply #13 on: February 10, 2009, 01:08:48 PM »

I think when you first leave school or college (well speaking for ME anyway) you just don't think about the long term plans. Credit cards and debts in general get raised. Many only think about now and planning for next month is thought of as looking to the future. These were my mistakes and I know I'm not alone.

Lava could you have gone to a cheaper college then? What made you go for the one you eventually did go for?
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« Reply #14 on: February 10, 2009, 02:19:48 PM »

I remember opting out of a pension deal in my first job when I was 18. I though, pension? I'm only 18 I have plenty of time to worry about that later. Hmmm.
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