Millions fear being made redundant

A hat tip to my colleague Tom Allen for spotting this excellent macro article in the Guardian.

Jobless set to top two million as the UK economy heads for meltdown 

As one company after another lays off its workers, Tim Webb, Heather Stewart and Nick Mathiason report on the crisis faced by struggling British households.

There is no doubt that millions of people have genuine fears of being made redundant. I read of one survey this week which put the figure at fifteen million. Concerns over job security are not always borne out by reality, but they deepen the sense of economic gloom and are likely to lead to further cutbacks in non-essential consumer spending.

Chart
unemployment_expectations.ppt

Revision notes on unemployment [20 May 2012]
Unit 2 Macro: Economic Cycle Glossary [5 May 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
George Buckley at the Millfield Economics Society [28 Mar 2012]
Unit 4 Macro: UK Bond Yields Reach Record Lows [11 Jan 2012]
Unit 2 Macro: Factors Driving Business Investment [10 Jan 2012]
Hopes and Fears 2012 [10 Jan 2012]
Why Is Macroeconomics Such A Mess? [11 Oct 2011]
Unit 2 Macro: Homework Assignment on Consumer Spending [3 Oct 2011]
Unit 1 Micro: Exercise on Market Supply [26 Sep 2011]
John Kay on the future of Economics [26 Aug 2011]
Monetary Policy Roundtable [25 Jul 2011]
Unit 4 Macro: Dangers of High Inflation [11 Jul 2011]
A2 Macro: Consumer Spending [30 May 2011]
AS Macro Key Term: Cost Push Inflation [24 May 2011]
A2 Micro: The Importance of Profit [19 May 2011]
UK Economy Update: What Mervyn Said [11 May 2011]
Interest Rates Held at 0.5% once again [5 May 2011]
Macroeconomics revision - measuring Consumer Confidence [4 May 2011]
AS and A2 Macro Revision: Keynesian Economics [28 Apr 2011]
AS Macro Key Term: Real Disposable Income [11 Apr 2011]
AS Macro Revision: Investment Spending [12 Mar 2011]
Martin Weale argues for higher interest rates now! [1 Feb 2011]
Economics Q&A: Will the rise in VAT harm the UK’s economic performance? [17 Jan 2011]
EU Economy: Focus on Inflation [16 Dec 2010]
Video resources on consumption and saving [7 Oct 2010]
Consumer sentiment weakens as double dip looms [2 Aug 2010]
Paul Krugman at the LSE [2 Jun 2010]
AS Macro Revision: Policies to Control Inflation [31 May 2010]
AS Macro Revision: Cost Push Inflation [31 May 2010]
AS Macro Revision: Household Saving [30 May 2010]
AS Macro Revision: The Importance of Consumption [30 May 2010]
AS Macro: Sterling and the UK Economy [29 May 2010]
A2 Economics Revision - Price Expectations and Money Illusion [8 May 2010]
The Financial Crisis and Beyond [6 May 2010]
AS Economics Revision - Managing the Economy [2 May 2010]
Animal Spirits [25 Apr 2010]
RES Essay Competition: Preventing Housing Bubbles [12 Apr 2010]
Kaletsky on the Phillips Curve [7 Apr 2010]
UK Economy Revision: Inflation in the last few years [1 Apr 2010]
Fed pledges to keep policy rates “exceptionally low” [16 Mar 2010]
Chinese growth in words and pictures [21 Jan 2010]
4 Conditions needed for recovery [14 Jan 2010]
Cautious consumers fear tax rises [6 Jan 2010]
How Markets Fail - the logic of economic calamities [26 Dec 2009]
Is monetary policy becoming less effective? [16 Dec 2009]
Inflation targets [15 Dec 2009]
Macroeconomic stability [14 Dec 2009]
Law and Morality in Economic Life [26 Nov 2009]
The power of words… [12 Nov 2009]
13% fall in household wealth will shape any 2010 rebound [25 Oct 2009]
Speculators and Exceptions to the Law of Demand [23 Oct 2009]
Explaining the Paradox of Thrift [6 Oct 2009]
A2 Macro: Domestic and External Headwinds [11 Sep 2009]
Japanese unemployment rises to record high [29 Aug 2009]
Causes of a double-dip recession [19 Jul 2009]
CAPEX under pressure as spare capacity grows [4 Jul 2009]
Revision - Animal Spirits [25 May 2009]
Revision: The Liquidity Trap [10 May 2009]
Revision: Importance of Business Expectations [6 May 2009]
Cycles and Stabilisers [13 Apr 2009]
Q&A: What is crowding out? [30 Mar 2009]
Bubble Behaviour [22 Mar 2009]
Robert Schiller on Animal Spirits [10 Mar 2009]
Macroeconomics Seminar with David Miles [27 Feb 2009]
Q&A: Why when base rates change does it cause other interest rates to also change? [23 Feb 2009]
The bottomless pit of public sector debt [19 Feb 2009]
Bootle on Deflation [25 Jan 2009]
Equality of unemployment [21 Jan 2009]
Falling investment as accelerator effect kicks in [20 Dec 2008]
Charles Bean on a drama in 3 Acts [18 Dec 2008]
OPEC’s biggest cut [17 Dec 2008]
The Fed Reaches the Floor [17 Dec 2008]
Barclays Boss says housing downturn is only half done [16 Dec 2008]
Crude oil prices and rig counts [12 Dec 2008]
A turning point for price expectations [11 Dec 2008]
Euro parity for the pound? [11 Dec 2008]
Who are the Bank of England’s spies on the ground? [25 Oct 2008]
Why is the pound falling in value and does it matter? [23 Oct 2008]
Will the labour shake out become a jobs rout? [12 Oct 2008]
BCC Survey - Confidence Disappears [7 Oct 2008]
Housing - a buyers market [27 Sep 2008]
Darling lays on the pessimism extra thick! [30 Aug 2008]
Its a confidence thing [25 Jul 2008]
Between a rock and a hard place [23 Jul 2008]
Bricomortis [21 Jul 2008]
Light at the end of the pipeline? [16 Jul 2008]
Soft landing for the labour market [11 Jul 2008]
Whistles and signs of a downturn [8 Jul 2008]
Recession fears - signals from the real economy [3 Jul 2008]
Expectations and oil prices [1 Jul 2008]
Confidence slumps - a tipping point? [30 Jun 2008]
New A Level Specifications for Economics - Have Your Say [22 Jun 2008]
Inflation expectations spike higher [15 Jun 2008]
Adjusting to oil price super spikes [11 Jun 2008]
Another turning point in sentiment [2 Jun 2008]
John Kay on perceptions of inflation [22 May 2008]
Central bank impotence [18 May 2008]
Mervyn faces the Music [14 May 2008]
A2 Macro Diagrams [10 May 2008]

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