Increasing pay gap between public and private sector workers

A study just published by the Office for National Statistics (ONS) shows that in April 2011 the average worker in the public sector received 8.2% more in hourly pay than an average worker in the private sector. This compares with differences of 7.8% in 2010 and only 5.3% in 2009. Why is the gap getting wider? Many would argue that … Continue reading

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UK unemployment rises to 2.53 million

In the three months to January 2011, unemployment reached 2.53 million, which is the highest figure since 1994, according to figures from the ONS. This means that the unemployment rate has reached 8%, up 0.1% from the previous three-monthly period, as an additional 27,000 people lost their jobs. However, by contrast, the numbers claiming Jobseeker’s Allowance (the claimant count) actually … Continue reading

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Over 20 per cent of young people now unemployed in the UK

In the three months to the end of November there was a rise in unemployment of 32,000 in the 16-24 year old category. This means that the number of young people without a job has now reached 951,000, which is the highest figure recorded since records began in 1992. Looking at the labour force as a whole, unemployment rose in … Continue reading

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Where will the new jobs come from?

This is a question posed by Dr John Philpott, chief economic adviser to the Chartered Institute of Personnel and Development (CIPD). The reason he asks it is because he believes that: “The full impact of the coalition government’s planned fiscal tightening has been understated.” The government’s estimate is that nearly 500,000 jobs will be lost in the public sector over … Continue reading

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So where are we now?

The dust has started to settle after the draconian cuts put forward by the Chancellor, George Osborne, last week, as he put forward plans to cut government spending by £81 billion over the next four years. Was he right to make cuts of this magnitude? The UK borrowing figures last week might suggest that he was. The figures show that … Continue reading

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The UK could lose 1.3m jobs as a result of the Budget

Surprise, surprise! According to the Guardian, a private Treasury assessment of the planned spending cuts says that up to 1.3m jobs could be lost over the next five years. The Guardian says that it has seen a slide from the final version of a presentation for last week’s Budget, which says that: “100-120,000 public sector jobs and 120-140,000 private sector … Continue reading

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Unemployment reaches 2.5 million

The latest unemployment figures take a bit of unravelling. The headline figure for the three months to February, using the Labour Force Survey measure, was up by 43,000 over the quarter to reach 2.5m. This is the highest figure since 1994. This gave an unemployment rate of 8.0% which was up 0.1% on the previous quarter. This is bad news. … Continue reading

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Outlook for jobs worsens

It looks as though jobs are going to be lost from the public sector faster than they are going to grow in the private sector. So says the latest Labour Market Survey produced by the Chartered Institute of Personnel and Development (CIPD) together with KPMG. In a survey of over 700 employers it appears that those employers who plan to … Continue reading

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Continued increase in public sector employment

Latest figures show that public sector employment increased by 13,000 in the second quarter of 2009 to reach 6.039 million. Overall, employment in central government increased by 21,000, whilst employment in local government and public corporations fell by 5,000 and 3,000 respectively. There was also an increase of 1,000 in the number of employees in the Civil Service.   This … Continue reading

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Slump in house building could become critical

The number of applications from builders to start new homes fell by almost two-thirds year-on-year during the three months from November 2008 to January 2009, according to the National House Building Council (NHBC). The NHBC also revised down its predictions for new home starts during the current financial year 2008-09 by 5,000 to 80,000. This would give a figure which … Continue reading

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