The UK suffered the largest job losses in Europe during the first quarter of 2009 .

It is thought that job losses for the first three months of the year totalled 219,290, with the UK suffering the most with 63,314 positions axed.

Other countries also said to be badly affected included Poland with 38,975 axed, Germany with17,461 job losses and France with 11,779 axed.

In total  there is said to have been 721 cases of restructuring in the EU between January and March 2009, involving the job losses and 90,000 job gains.

Financial services, car production and the retail trade were among the sectors worst hit.

It means job losses now outnumber job creation by almost three to one.

These findings reveal evidence that ‘the global recession is worsening and deepening’.

Growth forecasts continue to be revised downwards, while predictions regarding the inflection point marking a potential recovery of the global economy are increasingly being moved back to 2010, in some cases later.

Yet levels of job creation have grown in each of the last two quarters. Of the 89,625 announced job gains, bargain retailers and chain restaurants made up a significant proportion. Hotels and fast food markets also appear to be creating jobs.

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2 thoughts on “The UK suffered the largest job losses in Europe during the first quarter of 2009 .

  1. Beside the big job losses even though the UK received also the most foreign workers since 2004 but luckily the hotels, fast food markets and other services can still attract people for working and it means that there is hope to make it better in every field step by step

    Reply
  2. Although jobs are being created it is very probable that these are low-waged with the ultumate goal to lighten unemployment. It might help in the overall sense but it does not necessarily mean a really good thing. However in the idea of better something then nothing,. it’s a fortunate delight i suppose.

    Reply

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