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Job satisfaction hits an all-time low

A report by the Chartered Institute of Personnel and Development has today highlighted concern in the UK employment market. The survey of 2,000 workers found that job satisfaction has hit an all-time low, especially amongst younger workers who appear to be more concerned about their prospects and their working conditions. It was also revealed that less than 10% of those surveyed have seen an increase in their standard of living over the last few months, despite the fact the UK has officially moved out of recession today.

Unfortunately, there is no quick fix for the UK employment market and cost cutting and budget reductions will be commonplace for many months to come. We will also see a significant number of UK businesses go under over the next 12 to 18 months and personal bankruptcies will also soar. The truth is that while the UK may officially have moved out of recession there are many hundreds of thousands of people still feeling the pain of the last two and half years and struggling to make ends meet.

We may well see some short-term handouts from the authorities as we approach the next general election but in many cases these will just be papering over the cracks of what is still a very difficult economic situation.

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