Part-time work 'may help in recession'
When confronted with the option of accepting part-time work or being unemployed, many Britons are likely to accept fewer hours, even if this is not their ideal situation, it has been said.
John Philpott, chief economic advisor for the Chartered Institute of Personnel and Development, said the jobs situation in the UK was currently proving difficult as there was such a shortage of positions.
He added that underemployment was also being driven as many people were unable to secure the limited number of positions available to them.
"For some if it is the difference between a part-time job and being unemployed then in a sense that alleviates what could be the full impact of the recession, because at least people are getting [an] income," he explained.
However, Mr Philpott stated should these conditions continue people may be at risk of seeing their living standards drop.
But choosing flats to rent in Wandsworth or another part of London could result in people saving money they would otherwise be forking out for a mortgage - particularly with property prices in the capital so high.
The Office for National Statistics recently revealed unemployment rose significantly during the recession.
Written by Martyn Glynn
Published 18th February, 2010
© 2010 Estates IT Limited
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