Jobs Around The World

BY CARL MALWAYS

On the surface all is looking very rosy for the UK labour market if you’re looking for a job. Despite a huge inflow of migrant workers since the enlargement of the European Union the number of people claiming unemployment benefit has consistently remained below the one million mark in the last two years and has fallen by over 100,000 in 2007.

Nevertheless cracks are starting to show in the economy. Interest rates have risen five times since July 2006 and are likely to rise one more time by the end of the year. Higher interest rates are likely to hit both consumers and businesses alike as debt repayments become even more of a stretch. It should be noted that increases in interest rates take about a year to feed through to the economy so get ready for last years rate rises to start to hit!

Other weaknesses are showing. The slowdown in the US economy has been going on for most of the year without major consequences for the UK. The recovery in the major EU countries has helped to buffer the reduction in US demand for UK exports. However, the EU recovery is starting to look short-lived. The Italian economy posted very weak growth figures in the second quarter of year, whilst higher European Central Bank (ECB) interest rates are starting to hinder Germany and France.
Nevertheless on the surface it would seem that the slowdown is not having much of an impact on people’s day-to-day lives. Last week’s financial market chaos would have been a big headache for those working in the City of London or those with large share portfolios, but that’s a minority of the country.

The financial chaos should however start alarm bells ringing. It is not yet clear how the current mess in the international financial markets will play out, but if this turmoil continues then the cracks in the economy could well become holes for jobs to fall through. The financial crisis has exacerbated problem – few had been predicted that the United States could potentially move into recession until the events of last week.

It seems unlikely that the UK will suffer as much as the US. There are no credible analyst suggesting that the UK will enter a period of recession, but as the economy is squeezed by higher interest rates and as chaotic financial markets hit business confidence there will be those that will lose their jobs.

The first possible group to see job losses will be those working in the financial and business services sector in the City of London. Initial estimates had suggested that job losses in the City are likely to number a few thousand, but this number is likely to be revised upwards. The impact of this will be relatively limited to the London area.

The next sign to watch out for is a slowdown in consumer and business spending. With the financial markets looking wobbly and with higher debt repayments businesses will reduce their spending on goods and services, and also on headcounts.
Uncertainty in the financial markets leads to uncertainty in the business environment. Plans to invest will be hit as uncertainty increases the risk that they may not be able to afford the repayments in the future.

A slowdown in consumer spending is likely to follow. Higher interest rates will increase the cost of consumer debt repayments, primarily mortgages. However, this is likely to have a limited impact according to the Bank of England.
Consumer spending will also be constrained by the reduction in business spending. As businesses reduce spending employment growth will slow as will wage growth. With less money in their pockets the consumer will stay at home, rather than spending on the high street.

With business spending less on goods and services, those that supply those goods and services will have a reduction in turnover. With consumers spending less on goods and services these suppliers will also see reduced turnover. Lower turnover cause firms to fold or reduce costs; inevitably job cuts will be part of this process.

So when will this all come to a head? Most analysts suggest that 2008 will be the crunch point when the various factors come together to produce an economic slowdown. Expect to feel the pinch wherever you work, there are unlikely to be many sectors that don’t see an impact.

With this warning in hand I would suggest knuckling down and making sure your boss realises that you’re indispensable, even when business is bad! 2008 is going to be a tough year try to limit the suffering.

Experienced UK based economist Carl Malways gives his opinions on the UK economy and how it will impact upon employment and the labour market.

The hospitality industry is probably the biggest source of temporary jobs in Europe.

Experience in this industry and a working permit, may land you a bartending or waiting job with ease. You would need to ask around bars and restaurants. Notice boards of some hostels may also be a good source of information and job vacancies.

If you do not have the necessary permit but would still like to earn some extra cash, fruit picking or harvesting is an option. Farm owners usually turn a blind eye to the law and pay up front. This sort of job is available almost everywhere. The best way is to approach farmers directly or ask around the nearest village. You just need to the know the harvest time or planting cycle of most fruits.

Publishing articles or photos of the places you visited in Europe is another way to earn extra money. But a lot of tourists and travelers are doing this. Your articles or photos need to be competitive to be chosen by travel agencies. Magazines and newspapers also accepts travel photos and articles for their content.

These are some jobs you may explore while you are in Europe.

On the floor of stock markets and brokerage firms throughout the European continent, companies rely on stock brokers and financial experts in order to maintain their bottom line. The fast paced and globalized world of stocks, bonds, and funds require a group of sharp stock brokers. Companies that deal with the minute-by-minute machinations of the stock market are always looking for young professionals and graduates who have what it takes to succeed as stock brokers. The job market for stock brokers in the United Kingdom and Europe is volatile, though graduates who are able to find positions they succeed in will find great job security.

Stock brokers need a variety of skills in order to succeed in the stressful world of high finance. Brokerage firms don’t just look for finance graduates who have the academic background to understand market trends and the health of the market. Every applicant is expected to have this background. Firm managers look for graduates and young professionals who take an unorthodox look at the marketplace, allowing them to see trends and hot stocks days and weeks down the road. Stock brokers also need to have the communication skills to make themselves stand out in crowded market floors and meetings with corporate leaders.

There are a number of factors to consider for graduates before leaping into the topsy turvy world of stocks. The stress level is one of the greatest factors in career changes for young stock brokers. After all, they are often responsible for millions of pounds of a company’s finances that can be improve upon or lost with a few simple trades. Companies expect flawless decision making by stock brokers, which makes the profession an incredible physical and emotional investment for graduates. The competition level among stock brokers just entering the profession is incredibly high, with young professionals jockeying for management and consultant positions away from the stock

Many people get into TEFL as a gap year activity before going back to the “real” world and getting a “real” job. However, there are some of us who stay in the game for a while. Although time is a great way to move up in the TEFL world, you’ll have to do more than that if you want to snag the good jobs. There are two tried and true ways to move up and get better jobs in the TEFL world. First is experience and the other is qualifications.

Experience is pretty easy, you’ll want to work at good places, not only institutes, but schools as well. You’ll want to work with a variety of age levels and English levels in order to get as much experience as possible. If you teach the same age and level for a while, you’ll be likely to get into a rut. Changing classes will allow you to work with different books and try out different activities. If you spend a lot of time at one place, you’ll probably get the chance to work with different classes. Another reason to stay at one place is that you’ll also be more likely to be chosen for promotion.

Qualifications is the other. Employers place high value on attending workshops, congresses, and conferences, and belonging to professional associations. The place where you work might be willing to subsidise part of the cost of belonging to a professional organisation or attending a training event. Some places may stress training sessions so your school may offer these free to their employees. If not, try to attend a conference, as it allows you to do some networking. Create a section on your CV that lists a few of the recent conferences that you have attended.

Longer-term options include certificate, diploma, master, and even doctorate courses. While some places may offer to pay for part of your education, even if they don’t, you should consider investing in yourself.

In addition to paper qualifications, becoming a member of a professional association has benefits. Not only will you find out about the latest training courses, but they often offer discounts on courses or material. Also, by joining a professional association, you’ll be put in contact with others in your field, and many of them can be prospective employers.