Dire warning over 2009 job cuts

Dire warning over 2009 job cuts

news.bbc.co.uk

At least 600,000 jobs could go in the UK in 2009, according to a report by a personnel managers' professional body.

The Chartered Institute of Personnel and Development says even those who escape redundancy face pay freezes.

It says that while total unemployment will not hit three million, the time between New Year and Easter will be the worst for job losses since 1991.

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[edit on 28/12/2008 by Mirthful Me]

If the current figure of 1.86 Million unemployed is 6% of the workforce, that makes for only 31 Million workers.

Note that this figure does NOT include those not looking for work, those on benefit, or are in Government sponsored scams to reduce the jobless total.

The real jobless total (of those of working age) is already closer to 2.3 Million.

600,000 might very well push this to over 3 Million unemployed (in real terms), meaning that over 10% of the population will be without a job in 2010 and beyond.

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If we thought we had a problem before with the financial crisis, we REALLY have a problem now.

Can a country sustain a jobless total of >10%??

news.bbc.co.uk
(visit the link for the full news article)

[edit on 28/12/2008 by Mirthful Me]

Never forget the past lest history repeats itself...

en.wikipedia.org...

The Great Depression of 1919–22 broke out at a time when Britain was still far from having recovered from the effects of the First World War. Economist Lee Ohanain showed that economic output fell by 25% between 1918 and 1921 and did not recover until the end of the Great Depression[1], arguing that the United Kingdom suffered a twenty-year great depression beginning in 1918. Relative to the rest of the world, economic output declined mildly in the U.K. between 1929 and 1933.

A major cause of financial instability, which preceded and accompanied the Great Depression, was the debt that many European countries had accumulated to pay for their involvement in the Great War. This debt destabilised many European economies as they tried to rebuild during the 1920s.

Sound familiar??

Brace for impact mates!!!

We are at record breaking unemployment with dismal holiday sales to boot!

Let us hope with the new US administration the UK will pick up as well!

Well to tell you the truth, i'm really not surprised, what do you expect?

You have companies who for years have been running on this concept that creating sustainability is bad, they have to create as much of it as possible and sell it at the highest people are willing to pay for it.

When a company focuses on revenue and balance sheets, the structure begins to erode, fresh ideas are left out to dry.

The only real way to get out of this, is to force companies who helped create this mess (like the auto industry) to file for chapter 11 and re-structure they're businesses to meet the needs of a 21st century people.

Whether or not that will happen in my life time i don't know, but the economy is the #ter, and its gonna get worse before it gets better with the kind of pro big business we have now.