- Created: Wednesday, 04 December 2013 14:20
- Written by Spencer Jacobs
The government puts plenty of stock in the figures when it comes to revealing how many people are in work. But the main figure is just the tip of the iceberg. In reality it isn’t the number of workers that is the only concern – it is the number of hours they are working for.
If the recession and subsequent struggles have taught us anything, it is that part time jobs have become more common. This is not the way many workers would have things, but it is a case of ‘any port in a storm’ when it comes to retaining employment. In some cases hours have been reduced; in other cases pay has been reduced. If someone leaves a job or is made redundant they often find they can only gain part time employment elsewhere. This still counts as someone in work – but it does not reveal the hardship behind dropping from a full time position to a part time one.
Shorter hours can lead to more stress
A recent study revealed that shorter hours can affect wellbeing. It even posited that working fewer hours can lead to higher levels of stress. When you add in the fact that more people are being forced into working shorter hours rather than doing so by choice, it is easy to see how challenging this can be.
It is also well known that the cost of living has continued to rise in recent months. This provides another challenge when pay packets are already being squeezed. It’s clear there is no easy solution when more businesses are offering part time hours rather than full time positions.
Businesses must adjust to the financial landscape
Of course it is not easy for businesses to manage the situation either. Their goal is to remain in business. This may mean cutting down on employee numbers or adjusting the way they recruit people. If you are looking for new staff in London, for example, you can assess whether a London recruitment company might be able to provide you with temporary staff as and when required. This could be a more positive choice compared with the idea of taking on permanent staff – at least for the foreseeable future.
The length and depth of the recession and the period of austerity is hard for us all. However, it is surely better to have fewer hours to work than none at all.
A new report suggests that jobs in London's financial services sector have increased by 120 per cent since the beginning of 2009.
Vacancies in the City rose to more than 11,000 during the first quarter of 2010 in comparison to the figure of around 5,000 available jobs one year earlier, according to research by Astbury Marsden.
These figures show that the City is recovering well in the post-recession period and the increase in job availability is also forecast to carry on as the market continues its revitalisation. Around 53,000 jobs are expected to be created in the sector this year, a 26 per cent increase on last year's figure of 42,000 new roles.
Throughout the previous two years, many employees unhappy in their jobs stayed put due to the lack of options in a weak market. However, new candidate registrations grew by 20 per cent in the first quarter of 2010.
Employment website Monster indicated earlier this week that the UK's general job market was becoming healthier as it recorded a 15 per cent rise in employment figures during March 2010 in comparison to the same month one year earlier