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Number Of People In Part Time Employment Skyrockets
Number Of People In Part Time Employment Skyrockets
According to the Office of National Statistics, millions of U.K citizens are now working fewer hours, either because they can’t find full time employment, or their working hours have been slashed. A new research conducted by Sterling Green, a debt management companyhttp://www.sterlinggreen.co.ukbased in Manchester, suggests that the recession isn’t over for the average British resident and many are continuing to feel the financial strain. Therefore more people in the future may be in need of per
Manchester,
Manchester,
United Kingdom
(pr4links.com)
19/07/2010
"According to the Office of National Statistics, millions of U.K citizens are now working fewer hours, either because they can’t find full time employment, or their working hours have been slashed."
The number of people unemployed in the U.K fell by 34,000 to 2.47 in the first quarter of the year. However, the number of part-time workers rose by 148,000 in the last quarter and currently stands at 7.82 million, the highest level since records began in 1992. The main cause of the unemployment figure falling is the huge rise in part time staff across the country, many who have been forced into being part time due to a lack of available hours at their place of work.
Of the 7.82 million part-time workers, 1.1 million are people who are actively seeking, but have been unable to find a full time job.
Howard Archer, chief UK economist at IHS Global Insight, said: "The increase in part-time workers could well be evidence that many companies need to add to their staff but are reluctant to take on full-time workers given the still uncertain outlook.”
Recruitment agencies stated that not only were many people taking on part-time jobs when they would prefer full-time positions, but a record number of people are being forced to accept jobs that they are overqualified for, in a bid to stay financially afloat during these hard times.
Last year, when the recession was in full swing, a lot of law firms and consultancy businesses encouraged staff to take unpaid leave or work a four-day week. This resulted in many people fearing for their jobs and being out of pocket while their employers attempted to cut costs.
Economists have warned that with public sector jobs being cut, unemployment rates will continue to rise during this time when redundancy is rife.
Nigel Meager, Director of the Institute for Employment Studies, said: “Official figures are yet to register a major downturn in public sector employment, but this will inevitably follow. Recruitment to public administration has dropped dramatically, with less than one vacancy per 100 employees, half the level of a year ago.
"This is also the only sector in which redundancies have increased over the last year. These trends will accelerate in the months ahead, and it is unlikely that the real, but muted recovery in the private sector will be sufficient to offset significant public sector job loss.”
This serves as a terrible blow to anyone working in the public sector and these individuals may well struggle to find alternative employment if redundancy is in store for them. With the current economic climate, living off state benefits is just not plausible for most people. With so few full time jobs available, many people who are facing losing their jobs will have to settle for less working hours in a job that may not pay as well, or seek employment in a different industry than the field they hold experience in.
About:
Sterling Green PLC, based in the heart of Manchester City Centre, is a financial management company and as such helps people who are experiencing financial difficulties. Sterling Green experts help with debt management issues. Sterling Green offers debt consolidation and debt settlement advice.
Company Name: Sterling Green PLC
Contact Person: Tariq Ali
Full address: Sixth Floor Portland Tower - 53 Portland Street
Phone Number: +44 (0)161 237 0440
Website URL: http://www.sterlinggreen.co.uk
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About
Sterling Green PLC, based in the heart of Manchester City Centre, is a financial management company and as such helps people who are experiencing financial difficulties. Sterling Green experts help with debt management issues. Sterling Green offers debt consolidation and debt settlement advice.
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