The middle classes are facing a "white collar recession" of falling living standards and unemployment as the economy suffers its worst year since 1980, the Bank of England has warned.
http://www.telegraph.co.uk/finance/f...arns-Bank.html
'Professor Peter Spencer, economic advisor to the think tank The Item Club, said: "Minus 2 per cent feels really quite rough, baring in mind normality is at least plus 2.5 per cent. You will see an increase in redundancies and everything follows with that. It's all grief for the man and woman in the street. It's a matter of keeping your head down and trying to hold on to your job – a new phenomenon for anyone under the age of 35."
'
Milan.
http://www.telegraph.co.uk/finance/f...arns-Bank.html
'Professor Peter Spencer, economic advisor to the think tank The Item Club, said: "Minus 2 per cent feels really quite rough, baring in mind normality is at least plus 2.5 per cent. You will see an increase in redundancies and everything follows with that. It's all grief for the man and woman in the street. It's a matter of keeping your head down and trying to hold on to your job – a new phenomenon for anyone under the age of 35."
'
Milan.
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