Get Britain Working is totally missing the current employment crisis economy

[myotheraccountsa]

Just read the BBC article about rate of UK unemployment up to 5% - the gvmt saying people should question the accuracy of this data, but also that it ties into their campaign to "Get Britain working".

I am mind blown. Are they not seeing what I'm seeing? This isn't an issue with people on benefits etc -

There's a huge new tidal wave of very highly qualified people who have been merrily working for all their lives, now made redundant or upon leaving theor jobs literally cannot find anything. There's a Mid-Senior level crisis all over LinkedIn - 500+ people applying for every 1 job. People searching for over a year with hundreds of applications, interviews, and getting nothing. Basically being told that nowadays the only way to get a job is through networking - it's back to who you know, not what you know.

And then the government act all surprised and like they haven't taxed businesses on workers to the point that they're cutting heads wherever they can? Or that they are oblivious to this and everyone should "get back to work" like it's easy for an ex-SVP to persuade the local chippy they're the ideal employee (even if they're desperate and would willingly work there).

Madness.

Yes I cannot understand why the government doesn’t do something about the high marginal tax rates, they are killing the economy and the government is missing out on the 42% tax people would of been happy to pay

@Jems557 Unfortunately lab supervisors are easy to find. Vast numbers of grads in this field as expansion of universities has produced them. It’s supply and demand. Not all stem pays well. It’s choice isn’t it? Make one with better pay outcomes. Plus I don’t begrudge any supermarket worker getting minimum wage. We need food shops!

Certainly don’t begrudge people getting the minimum wage either

Our starting salaries for new graduates in 2000 (I was one) was £40k. Admittedly we were in over-exuberant startup mode at the height of the dotcom bubble, but 25 years later and our starting salary for new graduates is…£40k.

@PharazonIn 2000 that was a stonking starting salary. More than city law grad jobs by a long way in 2000. So it’s really out of kilter with the norm. For any sector. However grad salaries have been static for 15 years. Especially some engineering roles. Many grad jobs in London are very low too - start on £25,000 pa. Way less than a nurse or teacher who people think are low paid and need food banks! It’s over supply of grads - mostly.

This was in The Guardian in 2000.

It was par for the course for startups in 1999-2000. Also came with a bunch of stock options (which were obviously worthless after the dotcom crash). It was quite bonkers. We pitied our fellow grads who didn't get a job in a startup and had to settle for a quant job at Goldman Sachs or Merril Lynch 😆

This is just politics. Playing politics, picking one party of elites over another, while our entire economy is collapsing around us.

This is not about politics. This is about how people are going to live in a grossly overpopulated country with massively inflated prices and living costs, where meritocracy is dead and all that matters for life is who your grandparents were and what inheritance they gave you. In a country where one sector after another is collapsing like dominoes killed by computers, globalism and greed.

Stop playing bloody politics in bloody London and tell us how we can live in future, never mind fiddling while Rome burns.

They don't know. No-one does. Stock up on canned food and water purifier tablets and learn how to skin a rabbit (or cat) is my advice.

I have excellent experience 20+ years, and haven’t been able to find a job - nearly 1 year of searching. Every application is tailored & ATS scores checked. Not even a temporary role at Christmas in the supermarket. It’s a f joke. Not sure what’s next for me, give up working altogether? Not much left in the savings pot. Aged out, AI’ed out.

At this point, I’m starting to think being hopeful might be delusional.

I find this really hard to believe. This isn’t painting the full picture, and you’re probably overlooking various factors, as good roles at good companies get snapped up rapidly. Or your recruiters aren’t doing their jobs well - as someone with a background in recruitment.

As far as benchmarking goes, I’ve seen EA roles in London advertised at 30k! Similarly roles requiring 5 years of experience and a masters degree paying less than 30k.

Employers are underpaying because they know candidates are desperate and that the job market is horrendous. Many roles are paying far less than they were even last year. Compensation is poor, and statutory holiday and pension are often the only benefits being offered.

This means that it might not even be financially feasible to work due to childcare, COL, or transportation costs.

Additionally, an insistence on hybrid working (typically 3-4 days or 5 days onsite) means many people can no longer afford the commute on the much lower salaries. It also means that disabled people might not be applying, and you’ll see less parents being able to work those roles due to the lack of flexibility.

And on top of all this, many employers paying a good wage, expect you to be connected to work constantly (email/phone) & to forgo a good work-life balance.

To put it into perspective, 20 years ago I was on 21k in London in a finance role in corporate, I’m still seeing roles paying salaries in the low 20s.