80 000 jobs lost in Britain in 3 months!
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;)
According to Jamie Dunkley, writing for The Daily Telegraph, the period October 2008 to January 2009 has seen 80 000 employees in Britain losing their jobs.
This number will not include all those self-employed as consultants or working on contract basis or in businesses linked to the larger corporations who are being knocked by the domino effect of the supply chain.
Things look bad and, according to a report by the BDO Stoy Hayward Industry Watch, they are only set to get worse as the economic conditions decline through 2009. They predict that “business failures… will rise to 32,300 in 2009, to peak at 32,400 in 2010.”
The business information provider Equifax said that the number of business failures in the period October to November 2008 was at least 27% up on the same period the previous year. Job losses are therefore set to continue apace.
On the positive side Shay Bannon, Head of Business Restructuring at BDO Stoy Hayward said, “Despite the pessimistic outlook in the short term, the UK economy is in a better position in this stage than in recessions seen before. Low interest rates and inflation gives the UK strong economic foundations for recovery.”
Not all job losses are because of company failure either, but rather as a result of companies tightening their belts in order to weather the storm of the global economic turmoil, survive it and come out able to continue trading well into the future.
