Education, education, education! Go to university, learn a profession and be made for life. So go the mantras. But this recession has, according to a Telegraph report today, had a massive and adverse affect on employment amongst the professions.
Solicitors on benefits up by 401% to 1,800. Unemployed architects up tenfold since march 2008 to over 1,500. Unemployed vets up six-fold to 90, while the numbers of unemployed surveyors is up ten-fold. Accountants have fared no better with their unemployment up 250%.But these figures are derived only from the ranks of the benefit claimants. Many of those in the professions who are made redundant do not claim or cannot because of their savings and / or payoffs and insurances they ma have taken out to cover such a contingency. These people are usually extremely highly qualified having sacrificed their early years to intense study. Â A lot will be self-employed in their mid forties of fifties and may never get another job.
They also have more expensive lifestyles and larger houses , usually meaning bigger mortgages at least earlier on. This could put downward pressure on some of the larger houses as downsizing occurs.
These losses of professional jobs constitute the largest percentages in falling employment when compared across the board, except for the class of ‘senior officials in national government where claims have fallen.
The whole idea I thought was that the educated professionals and small businesses were going to drive the recovery. But a recession is part of a business cycle that is there to sweep away what we do not want (via government actions) in our society. It seems we want to keep the bankers happy but not the smaller, self employed professional. Or is it that we did not need that many of these professionals to start with?
Over the last few days we could quite happily have had thousands of people with shovels keeping the roads, railways and airports clear of snow.