Britons ride out economic problems by staying in jobs

Thursday, 10 November 2011 02:10

New figures suggest that Britons are staying in their jobs rather than facing looking for new ones in the current economic climate.

According to the Office for National Statistics (ONS), 647,000 people left their main employment in April to June 2011, down from a peak of 1.17 million in 2008.

This represented only 2.4 per cent of the entire workforce and could mean that workers are keen to retain the stability of their current employment while living costs are rising.

With unemployment at its highest since 1994, the figures may also point towards the fact that people are not keen to re-enter the jobs market when competition is so high.

Indeed, the Higher Education Careers Services Unit said 19,785 university graduates were looking for jobs in 2010, adding to the perception that there are not enough positions to go around.

"A slowdown in the economy like that experienced in recent years in the UK will impact on the rate
of people leaving or changing their job … there are fewer opportunities to move, people are often reluctant to change jobs and some people will become unemployed," the ONS said.

It added that 57 per cent of the job-leavers in the second quarter of 2011 chose to vacate their positions voluntarily, while 43 per cent left on an involuntary basis.

A clear pattern became evident during the recent recession, when the ratio between those resigning and being made to leave narrowed, again suggesting that those in employment are staying put to wait until the economy recovers.

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