Booming jobs market to provide recession protection?
Despite much talk of an economic slowdown, a new all-time record of 29.4 million people are in employment in the UK today. This follows an increase of 263,000 during 2007.
In addition, the number of people claiming Jobseekers Allowance stands at its lowest total since 1975. Economists are expecting further growth of approximately 120,000 new jobs during 2008, far from the dire predictions of disaster prevalent in some quarters following 'Black Monday' on 21 January.
These employment figures give much cause for optimism, bringing with them genuine prospects of protection against recession in the months to come.
Metcalfes is aware, however, that many people will be concerned that most of the jobs will be taken by foreign workers. True, recent years have seen large numbers of workers arriving from countries like Poland and the Czech Republic, attracted by our strong economy. Now, however, it appears that the picture is changing.
First, central and eastern European economies are booming - Poland is growing at 5% - and several of their governments have schemes in place to attract people home again. Second, other Western governments, including Germany, are making migrant workers more welcome, meaning they have other choices in addition to the UK.
New jobs are created by successful employers - many of which are very small businesses without prior experience of employing staff.
Evidence shows that many small businesses are deciding not to create new jobs because of the complex laws surrounding employment. Rather than hold a business back from the next stage of development, they should talk to a specialist employment lawyer who can help put in place everything they need.
Anyone wishing to discuss employment law issues should contact Bethan Southcombe on 0117 945 3084 or email bsouthcombe@metcalfes.co.uk to talk about their circumstances.
This press release summarises the law on issues which we believe may be of interest to your business. It is not a comprehensive review of the subjects and accordingly is published without responsibility for loss occasioned to any person(s) acting or refraining from action as a result of information published