This young adolescent sensation has grown up into a young man barely in the blink of an eye. With his out of nowhere success which has spawned legions of fans across the world has come increased pressure and tension. This happens to almost every young celebrity who makes it big, perhaps way too early in their life to be able to manage it properly. His recent altercations with police in Florida highlight his distress and somewhat out of control situation. Fortunately for him, he can still record songs and keep millions of fans. But for the rest of us who are looking for a job in this somewhat dicey UK economy, the prospects are still a little scary.
Unemployment Is down, but What Is the Quality of Filled Positions?
As recently as last November, reports gathered by our beloved Office of National Statistics, the ONS, show that unemployment has actually dropped by just a sliver. By a sliver, I mean 1/10 of 1%. Still, the 25,000 people who have found employment during this period are certainly elated, and it is certainly a good thing. But what lurks behind the official statistics? The fact is that a rising number of these filled positions are only for part-time work. The trend is so disturbing that the total number of people employed in part-time positions is at its highest level since the ONS started keeping records, which goes back 22 years, to 1992. Is there any viable reason why this is happening?
Employers Are Skittish
Given the fact that a certain amount of the economic recovery which we experienced in 2013 was due to consumer spending and not more sustainable and ultimately more reliable metrics, such as industrial production, it is understandable that many employers are not throwing their hat in the ring and hiring a large number of people on a full-time basis. Given the relative desperation of many people find a job, any job, a part-time position is certainly better than none at all. I really don’t think that employers are trying to take advantage of the situation. After all, the ability to hire a reliable worker and keep them productive for many years is ultimately good for the firm. But this new trend is certainly wreaking havoc on employment agencies, which often have to rely on recruitment finance to pay their bills on a monthly basis. Fortunately, there are companies such as www.cashsimply.co.uk who can provide the necessary funding to keep recruitment agencies on track and viable.
Salaries and Inflation
Apart from the obvious fact that a part-time worker is not going to be able to bring home a substantial pay cheque, there is also the issue of taking a good look at whether wages are keeping pace with inflation. The answer, by all accounts, is no. For the year that ended in July 2013, wages only rose by 1.1%, while inflation was more than double that, at 2.8%. Anyone shopping for food on a weekly basis is painfully aware that their money is certainly not getting them as far as it used to. Most economists agree that while inflation may not disappear, wages could very well begin to inch upward, but it will take time. In the meantime, we can only hope that more full-time positions become available and that the UK economy can start experiencing meaningful growth again.
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