March 2, 2009

UK manufacturing could see 140,000 job cuts

UK manufacturing sector could see 140,000 job cuts in the year because of the economic downturn, the Engineering Employers Federation (EEF) said on Monday.

The engineering and manufacturing body, which surveyed 782 firms, forecast that manufacturing output would fall by 8.6% in 2009 and grow only 0.2% in 2009. Engineering output is set to shrink by 10.9% this year and rise by 0.9% next year.

Source ShareCast

February 12, 2009

U.K. Unemployment Hits 10-Year High

U.K. unemployment rose in January to the highest level in almost a decade, threatening to erode support for Prime Minister Gordon Brown as the recession deepens.

The number of people receiving jobless benefits climbed 73,800 to 1.23 million, the most since July 1999 and the 12th increase in succession, the Office for National Statistics said today in London.

Source: Bloomberg

January 19, 2009

UK unemployment to hit 3.4 million

Filed under: UK,unemployment — 7macaw @ 12:18 pm
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The next year will see the sharpest contraction in the UK economy since the Second World War, the Ernst & Young Item club has predicted.

In its quarterly report on the state of the economy Item also predicted that unemployment will rise to 3.25m by the end of 2010 and hit 3.4 million in 2011.

Source: Accountancy Age

December 17, 2008

All 807 Woolworths stores to shut by January 5 as 27,000 jobs are axed

According to DailyMail, UK: “All 807 Woolworths stores will have closed down by January 5, the group announced yesterday.

A countdown for the closure of the chain, a fixture on the High Street for 99 years, was triggered last night after no one offered enough cash to buy it as a going concern.

The news means that some 22,000 permanent staff and 5,000 temporary workers will suffer a miserable Christmas and unemployment in the New Year.”

The first 200 stores will close on Saturday, December 27, another 200 go on December 30, a further 200 on January 2 and the remainder on Monday, January 5.

Update (12-17-2008): Woolworths website is currently down

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U.K. Jobless Claims Rose at Fastest Pace Since 1991

Filed under: Europe,FYI,UK,unemployment — DF @ 3:41 pm
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According to Bloomberg: “U.K. unemployment rose at the fastest pace since 1991 in November and the Bank of England considered cutting interest rates to the lowest ever this month as the recession tightened its grip.

The number of people receiving jobless benefits rose 75,700 to 1.07 million, the highest level since July 2000, the Office for National Statistics said today”

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