You are here: ASDA Financial Services > Latest news > Job vacancies 'down by almost a third'

Advised Life Cover

Get a quote

or Find out more


Job vacancies 'down by almost a third'

15th July 2010

There are almost 30% fewer job vacancies available than there were before the recession, figures have shown.

The TUC said the 492,000 job vacancies in May represented a 29% fall on the 692,000 pre-recession level of April 2008.

The figures highlight the decision of many people to cash in their life insurance policy in order to help them through a difficult period of unemployment.

The union said the figures dealt a blow to Government hopes that new positions would ease the impact of cuts to the public and private sectors.

Ahead of Wednesday's publication of the latest unemployment figures, the TUC said the economic recovery remains "fragile" - further emphasising the need for Real Life Cover for many people.

Construction vacancies fell 64% from 28,000 in April 2008 to 10,000, according to the TUC analysis. In the science sector, the number dropped by almost half (49%) from 65,000 to 33,000. Also, figures for manufacturing made grim reading, showing a 46% fall from 56,00 to 30,000.

The union organisation said it expects Wednesday's Government figures to show further rises in unemployment, along with steep increases in long-term unemployment levels.

Gloomy predictions that many people will be out of work for long periods of time also reinforce the need for Income Protection Cover.

The union warned the twin-track approach of culling public sector jobs and cutting private sector demand through deep spending cuts would lead to a jump in poverty.

TUC general secretary Brendan Barber said: "Economic recovery remains fragile. Even on the most optimistic assumptions, recovery is not strong enough to generate new jobs for those being made redundant in both the private and public sectors as a result of the spending cuts."

 

Advised Life Cover

Get a quote

or Find out more