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." .
How to Save $5000 on Forex Trading Training and Get it Free
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.(*)
.
Forex Trading-How Your Broker Makes Money (Legal and Illegal)
Wednesday, December 10, 2008
To protect yourself you need to know how your broker makes money. That way you can tell if anything "fishy" is going on. Not for one moment should you believe that your broker is basically honest (you probably don't).
That said, as long as everything seems above board you are okay (plus at the end I'm going to give you a bonus tip to make you impenetrable to any broker's scams)
First, brokers are supposed to make their money from a portion of the spread they charge you. If the spread is 2 pips, 1 pip is for them, 1 goes to the bank that they executed the trade with.
That's how it's supposed to work. Some traders actually trade against their traders. They aren't just a middle man. They figure that most (up to 90%) of forex traders are losers overall. So if they trade opposite, they will be winners. This is true.
However, it starts to get ugly when the brokers give you a bad spread depending if you're buying or selling. By doing this they might be able to double their take on the spread. And you'll never see it, because it's all happening behind the scenes.
If you're trying to scalp the market, you're dead meat.
Here's how you render all these tricks meaningless against you. Widen your stop and your profit target. (If you're trading with a lot of lots, you may need to take some off.)
With more room in the trade, the effect of losing a pip or two to something shady becomes meaningless because you grabbed 80 pips on the trade.
It's counter-intuitive. By taking more risk per trade, you can increase your chances of making money. Yet, by taking less risk per trade (e.g. scalping), you almost guarantee your eventual ruin. Do you want to learn more about how I trade? I have just completed my brand new guide, "Forex Trading - What Finally Worked For Me".
Download it free here: Forex Trading
Nathan Pennington is a forex trader and the author of Winning Forex Trading
