Tremors through the employment market
Over three decades ago, with the introduction of a three day week in many manufacturing companies in the UK, jobs for life became a thing of the past and apprenticeship work became the exception rather than the norm.
The UK started to see a significant shift in trade, from production to service industry. Two decades ago the City shook as financial bastions started to tumble down.
Many working in the City today were too young to remember the pain and sense of hopelessness which thousands of people felt as the ‘Big Bang era’ affected not just the technology fields, but sent tremors throughout the employment market.
As the last quarter of 2008 is upon us, discussions around Christmas bonuses will be overshadowed for many with a genuine fear of job loss. The need to reduce household financial commitments will continue to add pressure to the economy.