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Page 8: Getting a New Job.

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This page is devoted to employment and maximising what money comes in.

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Women's Pay Worst in Europe

(Monday 13th October 2003 news story)

The average British woman's pay packet is less than two thirds that of the average man, according to research by Datamonitor. It represents the worst pay gap in Europe.

Women's income is 26% men's when aged 14 - 17, rising through their twenties to reach a peak of 72% of men's when they are aged 35 - 49. A Datamonitor spokesman, who did not reveal his earnings, stated that women tended to choose lower paid jobs like nursing and teaching.

Unemployment Fall Fuels Rate Rise Fear

(Wednesday 13th February 2002 news story)

Official figures reveal that the number of people classed as unemployed fell last month, while the number of people in work has reached an all-time record high. Jobless figures fell 10,600 to 961,300, last month. Those in work, at the end of 2001, numbered 28.2 million, the highest level since records began in 1979.

Such news is likely to be of interest to the Bank of England when setting its base lending rate, many analysts deciding that rates have bottomed at 4%. Keen to minimise any consumer boom and bust, the BoE Governor will want to use interest rates as his main weapon to curb citizen's spending. The news of lower jobless totals and a higher than expected inflation rate all turn the base rate arrow upwards for the next move in rates. However, the Bank's Monetary Policy Committee is unlikely to react in March to such a limited set of data and will wait for more statistics and a more definite pattern, after all, our beleaguered manufacturing and service industries are begging for even lower rates.

Children are Beating Recession.

(Sunday 30th September 2001 news story)

One sector that seems to be thriving is the domestic chore sector, whereby children do jobs around the home for cash. In a survey by Family Assurance, 31% of parents said that they paid their children weekly to do tasks like mowing the lawn. Only 16% of parents never paid their kids to do chores and children generally appear to be ever more astute when it comes to getting extra pocket money.

After coping with the scary cost of £20,000 over the first five years to have a child, see Saving Money Page 5, parents are then collectively shelling out £345 million a year in pocket money and payment for household chores. That's on top of food, clothing, education. The cost of typical chores to parents include:

      • Washing Cars: £2.70
      • Mowing Lawn: £2.30
      • Ironing: £1.63
      • Tidying Bedroom: £1.60
      • Washing Dishes: £1.17

All this certainly highlights the monetary value of the traditional housewives role and that we, as adults, are becoming ever more prepared to pay cash to avoid tedious household tasks. (Going up chimneys was noticeably absent from the list, thankfully).

Unemployment Falls while Earnings Rise

(Wednesday 15th August 2001 news story)

The number of people out of work and seeking employment in the UK fell 12,800 last month, taking the City by surprise and lifting the gloominess of the UK economy. The new total is 950,300 and is the lowest since October 1975. The jobless rate remains steady at 3.2%. The services industry was responsible for creating the jobs, while nearly all manufacturing sectors reported falling employment levels. Metal production, textiles and transport equipment have been particularly hard hit.

Additionally, average earnings rose 4.8% in the three months to June, compared with a 4.6% forecast. The Office For National Statistics suggested that most of the upward pressure on wages came from bonus payments made in June, particularly in the financial, retail and hotel industries. Public sector earnings increased 5.5%, the strongest rise since January 1993.

Its Official: UK Manufacturing is in Recession.

(Monday 6th August 2001 news story)

According to the Office for National Statistics industrial output fell in the three months to June, marking two successive quarters of falling manufacturing output. This means that UK manufacturing is officially in recession. London shares finished lower, with all the main indices below their opening levels.

Manufacturing constitutes just over a fifth of the economy and the slump in the sector has just spread into the larger services industry sector. On Friday, the Chartered Institute of Purchasing and Supply said the services were "near stagnation" in July, with growth having virtually ground to a halt.

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