Category Archives: economy

UK News Media Job losses running at c.140 per week

DMGT Associated Newspapers is to make 300 roles redundant in the London area, this equates to 6% of the London workforce. This is part of what is believed to be a 15% budget cut:
http://www.guardian.co.uk/media/2008/nov/12/dmgt-associatednewspapers

Trinity Mirror has warned of potential job losses: (Update: pay freeze for 2009, branch offices closed and reported 1200 redundancies so far)
http://www.independent.co.uk/news/media/press/trinity-mirror-warn-of-more-job-cuts-1016888.html
http://business.scotsman.com/retail/Trinity-Mirror–hints-at.4694062.jp

The publishers of Time Out have announced a cut of 8% of their workforce, 13 jobs:
http://www.nuj.org.uk/innerPagenuj.html?docid=977

News Media job losses are running at around 140 per week, detailed in this post by Peter Kirwan of the Press Gazette: (Graph reproduced below)
http://blogs.pressgazette.co.uk/mediamoney/2008/11/13/news-media-job-losses-140-per-week-and-climbing/

In a reaction to these figures, Jeremy Dear, General Secretary of the NUJ highlights the hidden impact of media organisations simply choosing not to replace staff:
http://jeremydear.blogspot.com/2008/11/editors-theyre-like-buses.html

(Update:) Newsquest North East to close branch offices and make 17 redundant: http://www.guardian.co.uk/media/2008/nov/21/newsquest-downturn

 

 

Graph of job losses

Graph of job losses

Advertisements

Leave a comment

Filed under economy, Regional Press

After 63 consecutive quarters of growth, UK economic growth ends in Q2 2008

Economic growth was 0.0% in Q2 2008

Latest ONS GDP report for UK economy.

 

Household expenditure fell by 0.1 per cent, down from growth of 1.1 per cent in the previous quarter. This follows falls in the consumption of goods, especially food and non-alcoholic beverages and to a lesser extent cars, and net tourism. Household expenditure is now 2.3 per cent higher than the second quarter of 2007.

Leave a comment

Filed under economy

Uk Retail Sales fall -3.9% in June, but non food sales rise

UK Retail sales fell -3.9% in June 2008, reversing the unexpected May performance of +3.6%. Too much importance should not be given to a single monthly performance but the overall retail sales trend is weakening.

Key findings from the ONS report:

  • Retail sales volume rose by 0.6 per cent in the three months to June 2008 compared with the previous three months.
  • Three-monthly growth in sales volume fell by 0.2 per cent for predominantly food stores. In predominantly non-food stores sales rose by 1.1 per cent. Sales in the non-store retailing and repair sector rose by 0.8 per cent.

http://www.statistics.gov.uk/statbase/prep/870.asp.

John Lewis reported improved sales apart from out of town stores, which declined possibly reflecting higher fuel costs: Times article

Leave a comment

Filed under economy