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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

24 Apr 2010

Job market changes

Where are the jobs in 2010?

Figures were recently released indicating that 1 in 5 mainland UK workers actually worked for the Government in some capacity or other, and this is the area that shows the most growth. Jobs in the Environment Agency and the National Health Service, and local government planning and social services have risen over the past decade.
In contrast, as might be expected, traditional skills are on the decline. Also, competition in the electronics industry has seen manufacturers moving out of the UK. The knock-on effects have impacted many different job roles from Machinists to Quality Control inspectors. The shift in jobs has seen some de-skilling of the work-force with many employers now complaining that their employees are not sufficiently skilled to carry out their allotted tasks.
The percentage of state employed workers in Ireland has been reported as closer to 1 in 4, which I guess means that for the moment, jobs there are more stable. Government employment is a good thing when it comes to stability, and generally the State is a good employer. However the UK government has declared a pay-freeze as a result of the financial crisis, and this will have a profound effect on the economy.
A time of decline can often be a breeding ground for new small businesses to emerge, government needs to ensure that it creates an environment that encourages these new businesses to flourish.

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