New estimates on the number of jobs that could be lost in the city over the next two years have been released and numbers are as high as 20,000! Most of these will be seen in the banking sector but it is thought that construction could also see some heavy losses. Some 11,000 are expected this year and some 9,000 in 2009.
In their bid to throw a lifeline to homeowners, the HSBC is offering to match the low interest rates currently being paid on expiring fixed-rate mortgage deals.
When rates were very low in 2006 there were are an estimated 1.4million mortgage holders who took out 2 year deals.
To enable the HSBC, Britain’s biggest bank, to deal with possibly tens of thousands of new customers, the bank is taking on thre times the number of staff to cope with the expected demand.
More than 70,000 migrant workers managed to find work across the UK’s unemployment blackspots last year which has led to claims that the government is failing to get people on long term unemployment benefits back to work.
1,360 migrants found work in Rochdale Manchester where the employment rate is as high as 76%, in Enfield (London) there is an area which has 59% of their residents claiming jobseeker’s allowance, yet 500 migrants managed to find work in the area. In Caerphilly South Wales where 53% of the residents are unemployed 270 migrants found jobs.
You get the picture, some of these areas literally have whole generations of families on benefit, the question that also needs to be asked is whether the benefit actually out weighs the employment that migrants have seemingly been able to source. Between 2003 and 2007 the number of UK Nationals in word decreased by 409,000 to 25.2m, over this same period the number of migrants in employment from Eastern Europe in the UK grew from 29,000 to 410,000….. a scary pattern is emerging…
