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Does part time working boost the economy?.


spuds
Resolved

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On a point of curiosity what are your views on job-sharing or part-time working, and does it improve the economy and provide satisfaction for all involved, including those reliant or require those or any services given?.

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carver

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"What seems to be different about this downturn is that, instead of saying 10% of you have to lose your jobs, employers have said all of you have to work 10% less. That's kept skilled workers available for the upturn."

And what that does for the economy is to take money out of it that would have gone into buying products, remember more people are buying from places like Amazone who haven't put a lot of money back into this economy with their tax and for the poorer paid it just means that more of their income is now directed at just keeping warm.

That word downturn almost like deigning that we are in the worst depression for years, definition of "a drop or reduction in the success of a business or economy" sounds nice put like that.

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carver

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I know it's only from the BBC enter link description here but I do believe they mention some thing about it here, or here enter link description here

Or if you prefer one from the Times, bit more upper class for you enter link description here

Funny they don't agree with you

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Forum Editor

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carver

There's a degree of misunderstanding about the difference between an economic recession and a full-blown depression. The misunderstanding is brought about, in the main, by the lack of an official, internationally agreed definition, but there are broad lines of agreement on the following:-

A recession is when the economy shrinks (in terms of GDP) for two consecutive quarters. It's less severe than a depression, which occurs when the economy declines by more than 10%.

Using those definitions Britain hasn't been in depression since 1929.

Please understand that the economy is based on commerce, and people who run businesses take decisions that are designed to ensure that when the economy recovers, their companies will be ready to take advantage of the upturn in demand. That's why they take steps to ensure that they can retain skilled workers, even if it means that those workers are not fully employed, and even if it means that other workers must work fewer hours. The wage bill stays roughly the same.

The amount of money that enters the domestic retail sector varies according to peoples' spending, and that rises and falls as disposable income rises and falls. What happens in a recession is that people become more cautious - they may have the money, but they see their future as being less secure, so they tend to spend less. By doing that they actually prolong the recession - the best thing would be for them to spend in the shops - but it's an understandable reaction.

Governments have limited options at times like this, and the private sector is in a similar position. Unquestionably our salvation will come from the private sector, which is why it's essential to understand the decisions that are taken with regard to working hours. In a highly competitive world market we need to be ready to respond rapidly to changing circumstances. Our survival as a trading nation depends on it.

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spuds

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This post is nearly two month old, and was ticked as resolved, but its just attracted its first spammer :O(

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