At least 600,000 jobs could go in the UK in 2009, according to a report by a personnel managers' professional body.
The Chartered Institute of Personnel and Development says even those who escape redundancy face pay freezes.
It says that while total unemployment will not hit three million, the time between New Year and Easter will be the worst for job losses since 1991.
According to official statistics, there were 1.86 million people out of work in the UK in October.
That figure was the highest since 1997, taking the overall unemployment rate to 6%.The CIPD, which represents managers and personnel staff, issued its gloomy forecast a day after children's retailer Adams joined a growing list of well-known chains applying for administration.
Chief economist John Philpott said: "This time last year, in the face of some scepticism, the CIPD warned that 2008 would be the UK's worst year for jobs in a decade.It was, but in retrospect it will be seen as merely the slow-motion prelude to what will be the worst year for jobs in almost two decades.
"The CIPD's annual barometer forecast is that the UK economy will shed at least 600,000 jobs in 2009."Overall, the 18-month period from the start of the recession in mid-2008 until the end of 2009 will witness the loss of around three quarters of a million jobs, equivalent to the total net rise in employment in the preceding three years."
Mr Philpott said job losses were likely to continue into 2010, taking the final toll to about one million.
The CIPD also surveyed 2,600 workers and found that more than one in four did not expect a pay rise next year, while others feared a wage cut.
The institute's reward adviser, Charles Cotton, said employees were "realistic about their pay prospects".
"Against this backdrop, employers will need to work hard to find new ways to motivate their employees to perform," he said.
Financial incentives and targeted investment in training and development could be effective ways to do this, he added.
"More than ever, this is a time where organisations need to engage in an open and straightforward communication with staff, clearly explaining the reasons for any difficult measures that will affect them," he said.
"This will help preserve staff loyalty and engagement even during times when unpopular decisions need to be made." .
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Jerusalem, (ANTARA News) - Pesawat-pesawat perang Israel telah menghantam 230 sasaran di Jalur Gaza sejak Sabtu.
"Sebanyak 230 sasaran telah dihantam," kata jurubicara militer Israel seperti dikutip AFP. "Sasaran itu mencakup infrastruktur Hamas seperti gedung, depot senjata dan tempat peluncuran roket."
Israel melancarkan serangan pemboman besar-besarannya terhadap Hamas di Gaza sejak Sabtu pagi. Aksi itu adalah salah satu operasi militer terbesar terhadap wilayah yang mereka rebut dalam perang 1967 itu.
Sedikit-dikitnya 280 warga Palestina tewas dalam serangan gencar itu, sebagian besar dari mereka anggota Hamas, menurut dokter.
Hamas membalas dengan menembakkan puluhan roket ke Israel, yang hanya menewaskan satu orang dan melukai sedikit orang lainnya.(*)
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Foreign exchange currency market or forex market is a huge, developing and liquid round-the-clock financial market. It does not have any central location with lots of buyers and sellers. The trading is generally conducted by telephone or Internet. Banks, large corporations, insurance companies, and other financial institutions use these markets to manage risks connected to fluctuations in currency rates. However for the past years new and new firms are beginning to offer forex services to individual investors. Such forex firms (but not all of them) are regulated by NFA (National Futures Association). Before opening an account with a forex broker, it is recommended to find out if NFA regulates forex activities of this firm. In case of negative answer find out who regulates them as this is one of the most important aspects to pay attention at while choosing forex broker.
Like many other kinds of investments, forex trading bears high level of risk not all investors may use it. While trading forex you should constantly monitor and clear understand currencies correlation, as well as the factors influencing value of the currencies. You need also to fully understand the market and certain features of it.
Foreign currency exchange rates definition. Simply saying, forex rates are the value of one country's currency against another country's currency. Let's take a look at the following example: if you come to Great Britain on vacation, you have to pay for meals, accommodation, fees etc. in British pounds. Taking into account that all your money is in US dollars, you have to exchange some amount of your dollars to British pounds. Let's suppose that you decide to travel to England. Before leaving, you come to the bank and buy equivalent of British pounds for $1,000. If you receive 575.83 British pounds for $1,000, then $1 is worth 0.57583 British pounds.
This is considered to be the exchange rate to convert dollars to pounds. After staying for a few days in Great Britain, you understand that £575.83 will not be enough for covering all the expenses. Then you come to an England bank and buy another $1,000 equivalent of British pounds. However this time you receive only £567.02 for your $1,000 as the exchange rate to convert dollars to pounds fell from 0.57583 to 0.56702. This means that dollars equivalent become less compared to British pound. On arriving home, you realize that you have British pounds left. You come to the bank and buy US dollars for £100. The bank gives you $168.41; each British pound is worth 1.6841 dollars. This is considered to be the exchange rate to convert pounds to dollars.
However you should mind that the price quoted in the newspapers is different from the price quoted on forex. The reason is that banks and other market participants gain profits from spread that means the difference between buying the currency on one price and selling it on another. After reading this article you have the general understanding of what foreign currency market is and what are currency rates. It is the first step for you to become a successful trader.
