Job vacancies in the UK’s private sector fell in April, according to the latest employment index from recruitment specialist, Reed. The month registered a 2% drop in opportunities, compared with March, reflecting slower growth in the banking and tourism sectors, although vacancies were up 22% on an annual basis. The year-on-year rise is due to [...]
Better than expected growth in private sector jobs has been reported in January – according to the Reed Job Index. The Index was established in December 2009 to measure the strength of vacancies by Reed – one of the UK’s largest recruitment agencies. The Index saw a rise of 9 points in January to 113 [...]
The Chartered Institute of Personnel and Development (CIPD) has said the private sector will be hit severely hard as a direct result of the Government’s spending cuts. Last month, Chancellor George Osborne unveiled his Comprehensive Spending Review – in what has been described as the most savage spending cuts since the Second World War. The [...]
A report by accountancy firm PricewaterhouseCoopers (PwC) today revealed around one million jobs could be lost in the UK, as a result of the massive spending cuts introduced by the Government. PwC said around half a million jobs will be lost in the private sector due to the impact on firms supplying the public sector. [...]
Cutbacks in the public sector will be impacting on UK jobseekers across all sectors between now and the end of the year, according to research from The Chartered Institute of Personnel and Development (CIPD). The professional body has warned that employers are expecting to make an average 5.5% headcount reduction in the remainder of 2010, [...]
The Chartered Institute of Personnel and Development (CIPD) has warned of higher unemployment if economic growth misses forecasts. According to the employment group, growth needs to be at least 2.5% between now and 2015, in order for the private sector to create sufficient jobs to offset those that would be lost as a result of [...]
A report by the Recruitment and Employment Confederation (REC) and KPMG has revealed staff appointments in the private sector grew in June, albeit at the slowest rate for five months. The survey, which questions 400 recruitment firms, showed a strong rise in permanent staff placements, with engineering and construction growing. Commenting on the data, Rec’s [...]
The Chartered Institute of Personnel and Development (CIPD) said there are signs of improved optimism among private firms with the pace of job losses slowing. However, it is a different story within the public sector with growing pessimism among firms. A survey conducted by the organisation, from 923 of its members, found that the number [...]
Figures released by ADP Employer Services have revealed that fewer jobs were lost in the private sector in April in the US. The news was welcomed on the stock markets with the Dow Jones industrial average up by 76.14 points to 8,486.79 in early trading. Furthermore, the euro rose against the dollar to $1.3355, while [...]
The British Chambers of Commerce (BCC) is calling for Chancellor Alistair Darling not to increase the national minimum wage in Wednesday’s Budget. The request comes as the organisation is calling for measures to drive the private sector out of recession. Other measures including reducing corporation tax paid by small businesses, as well as introducing help [...]
A survey by the National Association of Pension Funds has revealed that a quarter of major private sector companies will close their doors to existing members in the next five years. A final salary pension scheme is deemed attractive since it promises to pay a percentage of earnings on retirement and those who join believe [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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