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Home > Blogs > Things that Pop into my Head > Permalink Are We There Yet?
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Things that Pop into my Head 
The Bank of England has announced that the economy could be entering its first recession in 16 years. That announcement is not really going to come as much of a surprise for most of us I imagine. The subtle signs have been present - the collapse of the American sub-prime mortgage market, the Icelandic financial crisis, not to mention Northern Rock. Doom and Gloom for JobsThe downturn in recent months has led to a rise in unemployment, plus a reduction of vacancies being advertised on job sites. Government 'return to work' schemes for the long-term unemployed are also a casualty of the situation as employers simply have no vacancies available, especially for people lacking up to date skills.
Doom and Gloom for IndustryAround the country, factories are cutting back production to avoid a surplus of materials, some cutting back to a 4 day week, yet others offering employees sabbaticals for weeks at a time.
How long will the recession last? Noone seems ready to predict that yet, but the boom and bust days we thought were long gone are upon us once more.
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