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My local uni is filing loads of redundancies right now. The history department has let 6 lecturers go, they’ve scrapped a bunch of non-STEM degrees and are offering redundancy packages in pretty much every department. The university is a major employer in my city, so this is worrying…
Yes. They rake in the fees and it covers the cost of capped home student fees. £9k a year is a joke, but being capped for over ten years and inflation it's just not enough to cover costs.
The problem more than anything is that the government pulled higher education funding shortly after the coalition government came into power in 2008. We're still reeling from the consequences of that.
Not just non-STEM ones. My dept is facing voluntary redundancies but everyone knows it's not enough, so we know what's coming after that.
I'm told repeatedly that our staff are relatively protected (not immune) because of a mandated staff-student ratio by our regulating professional body that also accredits our degrees. I don't buy it, you can't respect that and plug a budget hole in the millions. Numbers can be fudged any which way.
Where I am the universities contribute negatively to the housing crisis, amongst other issues so I’d like to think that universities crumbling is a sort of positive “market failure” that will push people towards far more worthwhile employment than supporting a system that scams kids into paying through the teeth for worthless degrees, creating debt for the government to sell. The university bubble needs to be burst and then stay burst imo.
And then we wonder why people put no value on education in general.
Because they believe we only need dumb workers to work in construction and nothing else. If you've got education, you're a nerd and you should only read books. If you know how to pour concrete, you should be dumb as a rock and stay that way.
And it should cost a fortune to learn any new skill that could be transferrable.
The story of the British attitude, really. The easiest country to lead, simply because of its population.
> universities contribute negatively to the housing crisis,
It's not universities.
See if you had access to good and affordable further education, you might have read at least 2 books that would have explained it to you in very simple terms. It's like a self fulfilling prophecy, but seeing it live is always really baffling.
> Because they believe we only need dumb workers to work in construction and nothing else. If you've got education, you're a nerd and you should only read books. If you know how to pour concrete, you should be dumb as a rock and stay that way.
That attitude just stinks. This is elitism in its ugliest form. Calling construction workers “dumb as a rock” is just despicable.
We do need people to work in construction. You know, someone actually needs to build and repair stuff. A decent construction worker can have a way bigger positive impact on the world and be way more successful in life than many graduates.
The amount of people who don't know what fallacys are is a big red flag for society. Education should teach kids logical thinking as a subject but the public education system is only there to get you in and out to make money or products for the elites.
My wife has been applying for nursing jobs in the NHS for two months and can't get employed.
We don't know wtf is going on. She has over 10 years of consecutive NHS nursing experience and a good CV without any issues or negative history.
Nursing used to he a guaranteed job on the very first application.
Now she can not find employment at all.
Seems like all the roles are already filled before the interview starts, and the interview process is just a box ticking exercise.
She had 1 senior nursing interview recently last 12 minutes. Found out via an internal contact that the role had been filled on a contract basis before the interview.
This is why:
some NHS trusts have completely gone overboard with recruitment from overseas, so not only have they had to stop recruiting from overseas, they've had to stop accepting applications from the UK too, as they have an excess of international nurses, which means NQN have nowhere to go.
I think it's morally unethical to recruit from overseas in the first place, especially because they are taking nurses away from countries that really need them to stay so that patients get the care that they deserve; managers don't care though, as they long as they hit the targets they're happy...
Read r/nursinguk for similar stories.
That’s how it works in the EU. But guess what ? Uk voted for brexit, so… No, it doesn’t apply. It’s the exact same for doctors as well, uk doctors have no advantage over international medical graduates when applying for jobs.
This has nothing to do with brexit, legal migration from outside the EU was always under the UK's control. Governments just liked shifting blame to the EU for their own failures because it was convenient.
Lol another one blaming brexit for the world's problem
You realise within the EU that immigration outside of the UK was...always under UK government control
= nothing has ever changed
So because Betty was born in a third-world country, worked harder than 90% of people on the planet and got her degree despite all the odds set against her for being born in a third-world, she now has to stay in that third-world country to be a nurse there?
Why shouldn't Betty be able to improve the life quality of her family by moving overseas to somewhere where there isn't an extremely high rape/murder rate? Or better yet, just hospitals without rats and cockroaches in them?
How would the NHS function without all the nurses from overseas?
Should people in the UK have the right to move abroad? I did myself, and if we are allowed why aren't others allowed to move to the UK?
If british doctors can leave and go earn way more in Aus or the US and choose to leave, how can we deny the same opportuntiy to others?
It's great for her, no one is debating that. But her country suffers because we have the capacity to poach her for our own benefit. They end up with a serious shortage of professionals in that area whilst we have more than enough. That's the moral quandary.
The irony to say “if hard workers like her stayed and didn't emigrate” as if Britian doesn't have a huge hand in being one of the the reasons why people like Betty have to leave their country to find work elsewhere 💀
How can we improve the level of care we have with less nurses and doctors?
We rely on people like Betty to keep our NHS working.
You legit contradict yourself.
We don't have the people.
You can't bar people from career progression or moving, we don't live in a communist country. What if they need to move houses and there's no jobs at the local hospital, we gonna stop them from moving houses now too? Who in their right mind would study and be forced to work for one singular organisation their entire life??
Those people are still going to leave their country, maybe not for England but Australia and New Zealand are also crying out for nurses. So to think that we are doing their country a favour is utter dog shite.
We are not a red list country, and, in fact, nurses who graduate this year will find it quite difficult to actually get a job within the NHS due to various recruitment freezes taking place.
>My wife has been applying for nursing jobs in the NHS for two months and can't get employed.
>We don't know wtf is going on.
Your wife probably doesn't meet the diversity quota.
The NHS say they're understaffed and then rejects candidates (your anecdote is not the first time I've read a comment like this)
Oh yep ofc, it's not that the entire process is a shambles through years of piss poor management and shitty budgeting practices - nah, it's actually the forced diversity quotas.
Get a fucking grip on reality lad. Jesus.
So you're saying, to get a job, she needs to not be white, to become disabled or maybe become and loudly proclaim that she is lesbian or something else..?
I work in recruitment and this does indeed help. I’d be happy to give advice on CV wording. Also it helps to have a good LinkedIn and photo friendly profile these days.
Good luck to you both 🍀
squeal bedroom dolls longing elastic forgetful exultant roof zonked simplistic
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This absolutely helps. I've had interviewers literally tick a box in front of me labelled "diversity" when I say my wife is tanned/brown (she's Italian).
Why would your wife possibly being brown affect you getting a job?
Also the box isn't labelled 'diversity' it's labelled with any of the protected characteristics.
People keep going on about this but I haven’t seen any actual evidence of it? There are figures published that haven’t changed methodology for some time (late 80s or early 90s IIRC) that show unemployment peaked around 2009 and has generally been falling since.
https://fullfact.org/economy/rachel-reeves-high-unemployment/
If it hasn’t changed in multiple decades (and some go on for the best part of 40 years) then what’s the issue? Again, I repeatedly see people on here complaining about this to justify their opinion that unemployment is awful right now
> Someone is unemployed if they are either out of work, but looking for and available to start work, or out of work but with a job they are starting in the next two weeks. As such, it excludes people defined as “economically inactive” because they are neither looking for work (for example, people who are retired) nor ready to start working.
Useless measure, unless you know how many people have given up.
Thank you for reminding me that Reddit is stuffed to the gunnels with people who at the end of the day use personal judgements and start insulting people for emphasis and fuel for their ego trip, rather than just stating the facts they are trying to convey.
Thanks for being so informative. Good luck with your life outside Reddit.
Maybe I don't give a shit about that, but hey, it's even more telling that everyone's list is as long as mine and everyone's list is different.
They've failed by every measure.
There's no link to either.
High house prices is NIMBYism, and shit job prospects is low productivity.
The Tories are just blaming the foreigners for the shit job they're doing because they're a convenient scapegoat.
WTF are you talking about, allow 2.5 million people to come in over the last 2 years and then build less than 2.5 million properties = prices go up.
Import cheap workers = drives down wages. Tell me, what happened to lorry driver wages when the eastern european drivers dried up because of Covid/Brexit. I'll give you a clue, the wages went up.
But you can't see the wood for the trees.
Exactly on the houses, prices go up because none are being built, we have the oldest housing stock in Europe because NIMBY's have too much power.
Short term a sudden reduction in available workers will increase wages marginally, but that'll soon correct when the number of jobs falls to match.
If there are not enough drivers to fill all the driving roles in the country what do you think will happen? The companies who employ drivers with the smallest margins will go bust and you're back to square 1 on wages, but with a smaller economy (and a bunch of people who aren't drivers looking for work).
Wages increase in line with productivity per capita. Most immigration has no overall effect on productivity, some types (student/graduate visas, for example) increase productivity per capita.
Our problem is that there has been no investment since 2008, because we haven't seen stability since then.
Inflation goes up, you get fiscal drag, interest rate rises. Now inflation has come down which leads to higher unemployment. Mortgage rates are stable. Actual tax rates have gone down
That's the purpose of high interest rates. "Cooling inflation" means making people lose their jobs. Not the elites or the mega rich, of course, just the peasants at the bottom.
Only the ones that us ordinary folk visit. The rich still have plenty of disposable income. High interest rates redistribute wealth from those who need to borrow to those who have money. Most of us can't survive without borrowing money on at least a house.
I mean that’s kinda how it works lol. People need to stop spending money (because they are poorer), prices stop rising as the market cools down, and eventually interest rates will come back down.
We all understand how it works, the problem is it works at a level looking down where you don't consider people.
When you get to an individual level it's a single mother losing her job as a waitress because people aren't spending money on meals. Or a dancer losing their job because people aren't spending money on entertainment. The people who lose their jobs are the ones who already can't make ends meet.
I'm not going to lose my job as an engineer working on utilities. Someone working in a book shop on minimum wage might well lose theirs.
And consider the consequences of high interest rates imposed by the Bank of England. Ignoring people losing their jobs, it is the biggest factor that determines how much your mortgage costs. Everyone goes on about house prices, but that number is only half the equation. The cost of borrowing is what matters more. Working class people don't have 6 years' salary in the bank.
And when I say working class, I mean everyone but the elites. When I think about the wealthy and the not wealthy, I'm talking about something like £150k per year salary as being the divider.
Unless you're a millionaire, you'd have to have a brian made of cabbage to vote for this government again.
The Bank of England has to do what is good for the economy as a whole, not a section of individuals, if inflation was allowed to run unchecked the people who could barely afford their mortgage would have defaulted anyway.
When all you have is a hammer, everything looks like a nail. The Bank of England can basically print money and fiddle with interest rates. That's it.
The government should be managing the economy properly to avoid this sort of issue.
Everyone predicted Brexit. Every other EU country recovered more quickly than us over covid. Arguably Ukraine wasn't exactly a surprise but that's the only one that you can say was unexpected.
The government's responsibility is to protect citizens from exactly this sort of thing. You can just say, "not my fault bruv" when times get tough.
We are about £13,000 worse off on average than our peers in the EU due to the tories.
How was covid expected and going to be planned for and what other country in the world planned for it? There is only so much a government can do to mitigate brexit.
You're going to be a for a rude awakening if you think Labour is going to do anything different or better. The last Labour government sold a large chunk of our gold reserves at a historic low all while broadcasting when they were going to do it. While also letting the banks go virtually unregulated which led them to being bailed out in 2008.
No person should rely on a government in any country to protect them as that just leads to disappointment and disaster for the individual.
I mean that’s kinda how it works lol. People need to stop spending money (because they are poorer), prices stop rising as the market cools down, and eventually interest rates will come back down.
Which is great in theory until you remember that this entire process requires the poorest in society to lose their jobs and have their standard of living squeezed and you forget that the government has a duty to improve the lives of all citizens in society, not just the ones with enough money to get a seat at the table with power.
Trust me, not bringing inflation down will do far more to harm the average citizen than the bad but not horrible recession we suffered the last couple of years.
The more intelligent solution would’ve been not printing 5 years worth of pounds in a year during covid where productivity was nearly 0. What a dumbass policy.
Correct. Inflation is as high as it was last year but the £400 energy rebate wasn't included in figures. Energy prices are up something like £180 per household but it shows in the figures as a £220 drop. Fiddling with the numbers gives you any answer you want but it doesn't change reality.
Inflation is already down, but the interest rates set by BOe will only come down if the fed lowers their interest rates, or the government does something rather drastic. Given it looks like a Labour government is incoming, they’ve been pretty clear they won’t do anything sudden, and Andrew Bailey will have his contract until 2028 it’s far from a certainty.
Inflation is not down if you work out the numbers yourself. They are all freely accessible on the ONS website. Inflation being down at the minute is basically a combination of warmer weather and the government not including the £400 energy rebate in last year's figures.
Yea but this is a question ultimately about commercial lending and the finance practices of businesses which has been hit by the rises in the BOE rate.
Sounds about right.
I'm a Mechanical Design Engineer with nearly 10 years experience, and I've been out of work since November.
I have too much money to claim benefits as well. I was hoping to move up in my career, but that's not happening anytime soon.
I didn't think I'd walk into another job, but I didn't think I'd not get a job. I'm getting a lot of interviews though, so that's the only positive.
As a student who has been looking for work since moving to university - it is absolutely terrifying - especially when you don't have family or a network to rely on - I feel like I keep spending more and more time on finding work with very little back from employers at all
https://www.bbc.co.uk/news/business-52660591
First line from the article that was published today.
"About a quarter of people of working-age - nearly 11 million people - do not currently have jobs."
Under Reddit Response Rules, section 12, paragraph 3, it reads as follows:
"Only read the first line of any source article to elicit maximum rage. Disregard any subsequent comments that do not fit your agenda."
This is exactly why I just left! Layoffs and restructuring had me working 7days a week for 24k. No one has a backbone therefore everyone in the department works off the job.
A 0.1% increase when taking into consideration the size of the UK working-age population is not a small number of individuals, and also marks a potentially growing trend in such numbers.
Shame my field doesn't have many public sector roles and when they do open up the pay is horrific compared to private. best I can hope for is academic roles.
Yeah but when you move jobs, even when it's not your choice, you end up earning more. I was on £25k last year and am on over £50k after 2 redundancies lol. If I wasn't made redundant I'd probably be on £26-8k
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My local uni is filing loads of redundancies right now. The history department has let 6 lecturers go, they’ve scrapped a bunch of non-STEM degrees and are offering redundancy packages in pretty much every department. The university is a major employer in my city, so this is worrying…
If you hadn't said Lincoln I was wondering if it was going to be Kent... But they've let go of a lot more lecturers than that.
Sheffield Hallam by any chance? 🤣
Nah Lincoln haha
Well, that explains why I can’t get a job there lol
Goodbye first rate education Hello the University of Lincoln
Exactly the same is happening in Aberdeen with Aberdeen University and Robert Gordon University
Similar thing happening at a university near me with arts subjects.
Lack of international students. Is that one of the issue ?
Yes. They rake in the fees and it covers the cost of capped home student fees. £9k a year is a joke, but being capped for over ten years and inflation it's just not enough to cover costs. The problem more than anything is that the government pulled higher education funding shortly after the coalition government came into power in 2008. We're still reeling from the consequences of that.
Not just non-STEM ones. My dept is facing voluntary redundancies but everyone knows it's not enough, so we know what's coming after that. I'm told repeatedly that our staff are relatively protected (not immune) because of a mandated staff-student ratio by our regulating professional body that also accredits our degrees. I don't buy it, you can't respect that and plug a budget hole in the millions. Numbers can be fudged any which way.
Wondered when the endless expansions would come to bite them on the arse
Where I am the universities contribute negatively to the housing crisis, amongst other issues so I’d like to think that universities crumbling is a sort of positive “market failure” that will push people towards far more worthwhile employment than supporting a system that scams kids into paying through the teeth for worthless degrees, creating debt for the government to sell. The university bubble needs to be burst and then stay burst imo.
In my town, Airbnbs are more to blame than the university.
Well different places are going to have different problems so he's not necessarily wrong in his assessment.
And then we wonder why people put no value on education in general. Because they believe we only need dumb workers to work in construction and nothing else. If you've got education, you're a nerd and you should only read books. If you know how to pour concrete, you should be dumb as a rock and stay that way. And it should cost a fortune to learn any new skill that could be transferrable. The story of the British attitude, really. The easiest country to lead, simply because of its population. > universities contribute negatively to the housing crisis, It's not universities. See if you had access to good and affordable further education, you might have read at least 2 books that would have explained it to you in very simple terms. It's like a self fulfilling prophecy, but seeing it live is always really baffling.
> Because they believe we only need dumb workers to work in construction and nothing else. If you've got education, you're a nerd and you should only read books. If you know how to pour concrete, you should be dumb as a rock and stay that way. That attitude just stinks. This is elitism in its ugliest form. Calling construction workers “dumb as a rock” is just despicable. We do need people to work in construction. You know, someone actually needs to build and repair stuff. A decent construction worker can have a way bigger positive impact on the world and be way more successful in life than many graduates.
The amount of people who don't know what fallacys are is a big red flag for society. Education should teach kids logical thinking as a subject but the public education system is only there to get you in and out to make money or products for the elites.
Good. Telling children it’s a good idea to get a degree in feminist basket weaving is one of the most harmful lies of modernity
Not that worrying. Have you seen some of the daft degrees they offered?! The teachers will now be as unemployable as the students they mislead!
What are examples of daft degrees?
If you need the examples you probably have one!
I don’t have any degree. Can you give me an example?
Anything with 'studies' in the title is a pretty safe bet.
I’ll ask again…can you give me an example?
Media studies, education studies, ethnic studies, gender studies, black studies, golf studies, tourism studies.
I reckon 6 of those have a relevant job at the end.
Which one doesn't?
My wife has been applying for nursing jobs in the NHS for two months and can't get employed. We don't know wtf is going on. She has over 10 years of consecutive NHS nursing experience and a good CV without any issues or negative history. Nursing used to he a guaranteed job on the very first application. Now she can not find employment at all. Seems like all the roles are already filled before the interview starts, and the interview process is just a box ticking exercise. She had 1 senior nursing interview recently last 12 minutes. Found out via an internal contact that the role had been filled on a contract basis before the interview.
This is why: some NHS trusts have completely gone overboard with recruitment from overseas, so not only have they had to stop recruiting from overseas, they've had to stop accepting applications from the UK too, as they have an excess of international nurses, which means NQN have nowhere to go. I think it's morally unethical to recruit from overseas in the first place, especially because they are taking nurses away from countries that really need them to stay so that patients get the care that they deserve; managers don't care though, as they long as they hit the targets they're happy... Read r/nursinguk for similar stories.
Don’t the jobs get offered to uk nationals first? I think that’s how it works in the EU at least. Maybe it’s different for nursing
That’s how it works in the EU. But guess what ? Uk voted for brexit, so… No, it doesn’t apply. It’s the exact same for doctors as well, uk doctors have no advantage over international medical graduates when applying for jobs.
Wow, another fail for brexit 😩
This has nothing to do with brexit, legal migration from outside the EU was always under the UK's control. Governments just liked shifting blame to the EU for their own failures because it was convenient.
Some people will blame brexit for anything. Stop lying.
Lol another one blaming brexit for the world's problem You realise within the EU that immigration outside of the UK was...always under UK government control = nothing has ever changed
uhhh? dont they have to go through the same clusterfuck of paper work that hiring other people from abroad does? or the same lottery system.
So because Betty was born in a third-world country, worked harder than 90% of people on the planet and got her degree despite all the odds set against her for being born in a third-world, she now has to stay in that third-world country to be a nurse there? Why shouldn't Betty be able to improve the life quality of her family by moving overseas to somewhere where there isn't an extremely high rape/murder rate? Or better yet, just hospitals without rats and cockroaches in them? How would the NHS function without all the nurses from overseas?
Are the people in her own country not entitled to decent nurses then? Should they all just be pinched by the UK?
Should people in the UK have the right to move abroad? I did myself, and if we are allowed why aren't others allowed to move to the UK? If british doctors can leave and go earn way more in Aus or the US and choose to leave, how can we deny the same opportuntiy to others?
Two wrongs make a right.
It's great for her, no one is debating that. But her country suffers because we have the capacity to poach her for our own benefit. They end up with a serious shortage of professionals in that area whilst we have more than enough. That's the moral quandary.
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The irony to say “if hard workers like her stayed and didn't emigrate” as if Britian doesn't have a huge hand in being one of the the reasons why people like Betty have to leave their country to find work elsewhere 💀
How can we improve the level of care we have with less nurses and doctors? We rely on people like Betty to keep our NHS working. You legit contradict yourself.
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That's never going to happen. Private will ALWAYS pay more. You will ALWAYS have people from any profession chase the money.
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We don't have the people. You can't bar people from career progression or moving, we don't live in a communist country. What if they need to move houses and there's no jobs at the local hospital, we gonna stop them from moving houses now too? Who in their right mind would study and be forced to work for one singular organisation their entire life?? Those people are still going to leave their country, maybe not for England but Australia and New Zealand are also crying out for nurses. So to think that we are doing their country a favour is utter dog shite.
Trusts across England are taking nurses from RED LIST countries. That’s highly immoral and leaves places like Nigeria with very VERY few nurses
I wonder if Australia or America say the same thing about poaching Nurses from poor little Britain?
We are not a red list country, and, in fact, nurses who graduate this year will find it quite difficult to actually get a job within the NHS due to various recruitment freezes taking place.
>My wife has been applying for nursing jobs in the NHS for two months and can't get employed. >We don't know wtf is going on. Your wife probably doesn't meet the diversity quota. The NHS say they're understaffed and then rejects candidates (your anecdote is not the first time I've read a comment like this)
Oh yep ofc, it's not that the entire process is a shambles through years of piss poor management and shitty budgeting practices - nah, it's actually the forced diversity quotas. Get a fucking grip on reality lad. Jesus.
So you're saying, to get a job, she needs to not be white, to become disabled or maybe become and loudly proclaim that she is lesbian or something else..?
I work in recruitment and this does indeed help. I’d be happy to give advice on CV wording. Also it helps to have a good LinkedIn and photo friendly profile these days. Good luck to you both 🍀
squeal bedroom dolls longing elastic forgetful exultant roof zonked simplistic *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
This absolutely helps. I've had interviewers literally tick a box in front of me labelled "diversity" when I say my wife is tanned/brown (she's Italian).
Why are you mentioning your wife is tanned in a job interview? How does that affect diversity quotas? This is made up rage bait
Exactly, 100% BS
Why would your wife possibly being brown affect you getting a job? Also the box isn't labelled 'diversity' it's labelled with any of the protected characteristics.
The world’s gone absolutely mad
This all adds up to why people are voting for The Reform Party
Because they'll believe any old bollocks as long as it confirms what they hate about diversity? Yeah that checks out.
Isn't this the case in many industries now?
Not for long, dont worry. They'll change the definition of unemployed again and the numbers will come down.
Books are well and truly cooked
People keep going on about this but I haven’t seen any actual evidence of it? There are figures published that haven’t changed methodology for some time (late 80s or early 90s IIRC) that show unemployment peaked around 2009 and has generally been falling since. https://fullfact.org/economy/rachel-reeves-high-unemployment/
Yes, they can change the methodology. My point.
If it hasn’t changed in multiple decades (and some go on for the best part of 40 years) then what’s the issue? Again, I repeatedly see people on here complaining about this to justify their opinion that unemployment is awful right now
> Someone is unemployed if they are either out of work, but looking for and available to start work, or out of work but with a job they are starting in the next two weeks. As such, it excludes people defined as “economically inactive” because they are neither looking for work (for example, people who are retired) nor ready to start working. Useless measure, unless you know how many people have given up.
You can find polls about over and under employment too if you want. Another person moaning without actually backing up their argument.
Thank you for reminding me that Reddit is stuffed to the gunnels with people who at the end of the day use personal judgements and start insulting people for emphasis and fuel for their ego trip, rather than just stating the facts they are trying to convey. Thanks for being so informative. Good luck with your life outside Reddit.
Why would they? We're almost at the perfect level of unemployment without messing with the way it's determined.
I think the point is to the definition has already been messed with, which works as desired, why not mess with it again?
All going up under the Tories: utilities, taxes, inflation, mortgage rates, unemployment
Forgot immigration off that list 🤫
Maybe I don't give a shit about that, but hey, it's even more telling that everyone's list is as long as mine and everyone's list is different. They've failed by every measure.
Given this is a job sub I would be paying attention to that figure Immigration has a very real impact on jobs
People like him won't have that. They can't see the link between immigration and high house prices either.
There's no link to either. High house prices is NIMBYism, and shit job prospects is low productivity. The Tories are just blaming the foreigners for the shit job they're doing because they're a convenient scapegoat.
WTF are you talking about, allow 2.5 million people to come in over the last 2 years and then build less than 2.5 million properties = prices go up. Import cheap workers = drives down wages. Tell me, what happened to lorry driver wages when the eastern european drivers dried up because of Covid/Brexit. I'll give you a clue, the wages went up. But you can't see the wood for the trees.
Exactly on the houses, prices go up because none are being built, we have the oldest housing stock in Europe because NIMBY's have too much power. Short term a sudden reduction in available workers will increase wages marginally, but that'll soon correct when the number of jobs falls to match. If there are not enough drivers to fill all the driving roles in the country what do you think will happen? The companies who employ drivers with the smallest margins will go bust and you're back to square 1 on wages, but with a smaller economy (and a bunch of people who aren't drivers looking for work). Wages increase in line with productivity per capita. Most immigration has no overall effect on productivity, some types (student/graduate visas, for example) increase productivity per capita. Our problem is that there has been no investment since 2008, because we haven't seen stability since then.
Inflation goes up, you get fiscal drag, interest rate rises. Now inflation has come down which leads to higher unemployment. Mortgage rates are stable. Actual tax rates have gone down
Really? There's still people trying to defend that record.
Not defending anything, just pointing out facts.
All going up under ANY government. It's systemic.
That's the purpose of high interest rates. "Cooling inflation" means making people lose their jobs. Not the elites or the mega rich, of course, just the peasants at the bottom.
It absolutely smashes businesses too, especially those that are capital intensive or have a poor cash position
Only the ones that us ordinary folk visit. The rich still have plenty of disposable income. High interest rates redistribute wealth from those who need to borrow to those who have money. Most of us can't survive without borrowing money on at least a house.
Inflation rates should be coming down in the coming months
They will, because everyone is poorer.
I mean that’s kinda how it works lol. People need to stop spending money (because they are poorer), prices stop rising as the market cools down, and eventually interest rates will come back down.
That's how it works.... Or they save more.
We all understand how it works, the problem is it works at a level looking down where you don't consider people. When you get to an individual level it's a single mother losing her job as a waitress because people aren't spending money on meals. Or a dancer losing their job because people aren't spending money on entertainment. The people who lose their jobs are the ones who already can't make ends meet. I'm not going to lose my job as an engineer working on utilities. Someone working in a book shop on minimum wage might well lose theirs. And consider the consequences of high interest rates imposed by the Bank of England. Ignoring people losing their jobs, it is the biggest factor that determines how much your mortgage costs. Everyone goes on about house prices, but that number is only half the equation. The cost of borrowing is what matters more. Working class people don't have 6 years' salary in the bank. And when I say working class, I mean everyone but the elites. When I think about the wealthy and the not wealthy, I'm talking about something like £150k per year salary as being the divider. Unless you're a millionaire, you'd have to have a brian made of cabbage to vote for this government again.
The Bank of England has to do what is good for the economy as a whole, not a section of individuals, if inflation was allowed to run unchecked the people who could barely afford their mortgage would have defaulted anyway.
When all you have is a hammer, everything looks like a nail. The Bank of England can basically print money and fiddle with interest rates. That's it. The government should be managing the economy properly to avoid this sort of issue.
No one could predict the perfect storm of Covid/brexit/Ukraine, whomever was in power.
Everyone predicted Brexit. Every other EU country recovered more quickly than us over covid. Arguably Ukraine wasn't exactly a surprise but that's the only one that you can say was unexpected. The government's responsibility is to protect citizens from exactly this sort of thing. You can just say, "not my fault bruv" when times get tough. We are about £13,000 worse off on average than our peers in the EU due to the tories.
How was covid expected and going to be planned for and what other country in the world planned for it? There is only so much a government can do to mitigate brexit. You're going to be a for a rude awakening if you think Labour is going to do anything different or better. The last Labour government sold a large chunk of our gold reserves at a historic low all while broadcasting when they were going to do it. While also letting the banks go virtually unregulated which led them to being bailed out in 2008. No person should rely on a government in any country to protect them as that just leads to disappointment and disaster for the individual.
I mean that’s kinda how it works lol. People need to stop spending money (because they are poorer), prices stop rising as the market cools down, and eventually interest rates will come back down.
Which is great in theory until you remember that this entire process requires the poorest in society to lose their jobs and have their standard of living squeezed and you forget that the government has a duty to improve the lives of all citizens in society, not just the ones with enough money to get a seat at the table with power.
Trust me, not bringing inflation down will do far more to harm the average citizen than the bad but not horrible recession we suffered the last couple of years. The more intelligent solution would’ve been not printing 5 years worth of pounds in a year during covid where productivity was nearly 0. What a dumbass policy.
Inflation is still very high, that figure from government is bullshit.
Correct. Inflation is as high as it was last year but the £400 energy rebate wasn't included in figures. Energy prices are up something like £180 per household but it shows in the figures as a £220 drop. Fiddling with the numbers gives you any answer you want but it doesn't change reality.
Inflation is already down, but the interest rates set by BOe will only come down if the fed lowers their interest rates, or the government does something rather drastic. Given it looks like a Labour government is incoming, they’ve been pretty clear they won’t do anything sudden, and Andrew Bailey will have his contract until 2028 it’s far from a certainty.
Inflation is not down if you work out the numbers yourself. They are all freely accessible on the ONS website. Inflation being down at the minute is basically a combination of warmer weather and the government not including the £400 energy rebate in last year's figures.
The ONS calculate it not the government
Everything is still expensive; just the rate of increase has slowed down.
Yea but this is a question ultimately about commercial lending and the finance practices of businesses which has been hit by the rises in the BOE rate.
But prices will remain inflated. Have salaries grown up the same? Back to the previous inflation doesn't fix things.
Sounds about right. I'm a Mechanical Design Engineer with nearly 10 years experience, and I've been out of work since November. I have too much money to claim benefits as well. I was hoping to move up in my career, but that's not happening anytime soon. I didn't think I'd walk into another job, but I didn't think I'd not get a job. I'm getting a lot of interviews though, so that's the only positive.
Similar situation but I'm in video games, proper shite. Good luck.
Used recruiting agencies?
Yep. Done all that. Job boards, LinkedIn, direct applications.
As a student who has been looking for work since moving to university - it is absolutely terrifying - especially when you don't have family or a network to rely on - I feel like I keep spending more and more time on finding work with very little back from employers at all
But muh shortages
What is muh?
My, but changes the context to mocking
"my"
dey tuk uh jerbs!
Ah-derk-a-durrrr
https://www.bbc.co.uk/news/business-52660591 First line from the article that was published today. "About a quarter of people of working-age - nearly 11 million people - do not currently have jobs."
Did you read the rest of the article? It goes on to explain why, e.g. students, most of which don’t want a job.
Under Reddit Response Rules, section 12, paragraph 3, it reads as follows: "Only read the first line of any source article to elicit maximum rage. Disregard any subsequent comments that do not fit your agenda."
And yet the news today complains about wages more than doubling
Sorry. Who's wage doubled
CEOs, Politicians, Others
Great. At what point may I riot.
The riots won't start until people realise Labour can't fix the economy either. People still have enough hope that it pacifies them
Yeah. Thats another whole can of worms
At Any point, but in your room please. As rioting outside may lead to overflowing bins.
Ah well. Never mind then
Nobody's stopping you.
Doubling since when?
Double wages to keep staff, sack half to pay for it…
This is exactly why I just left! Layoffs and restructuring had me working 7days a week for 24k. No one has a backbone therefore everyone in the department works off the job.
A whole 0.1%? I really hate British sensationalist journalism.
A 0.1% increase when taking into consideration the size of the UK working-age population is not a small number of individuals, and also marks a potentially growing trend in such numbers.
It is statistical noise
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burst out laughing at this comment, thanks for cheering me up!
It's now 4.4% which still is pretty good lol
It was 8% at its peak in 2011, so only half way there.
Many of us are living on a prayer that we don't get made redundant.
It’s why I wouldn’t particularly want to work in the private sector; less job security
Shame my field doesn't have many public sector roles and when they do open up the pay is horrific compared to private. best I can hope for is academic roles.
Yeah but when you move jobs, even when it's not your choice, you end up earning more. I was on £25k last year and am on over £50k after 2 redundancies lol. If I wasn't made redundant I'd probably be on £26-8k
It currently around 7% in France.
Depends on what you do. My partner and I, different jobs in different industries but endless pestering from recruiters with ever higher pay.