Threat To U.K. Labor Market Continues: BCC Survey

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Friday, the latest survey from the British Chambers of Commerce showed that threat to the U.K. labor market continued with one in every two firms either considering to reduce headcount or are certain to make redundancies in the coming six months.

The survey found that none of the businesses intend to raise stock holdings as 83% said they will maintain current levels of stock, while 17% plan to reduce their stock in the next 3 months. Meanwhile, only one in five firms expect growth returning to the British economy by the end of 2009. Around 32% expect the economy to grow by April to June period of 2010.

Adam Marshall, Director of Policy at the British Chambers of Commerce said, "With half of firms still thinking about cutting their workforce by the end of the year, the government must continue to promote measures that stimulate growth in investment and jobs."

Friday, the latest survey from the British Chambers of Commerce showed that threat to the U.K. labor market continued with one in every two firms either considering to reduce headcount or are certain to make redundancies in the coming six months. (Market News Provided by RTTNews)