With the UK now in a recession the question arises what will happen to the jobs market in Cardiff? From the above information it is clear that Cardiff is suffering worse than others. Panasonic has recently announced that it intends to cut 70 jobs in Cardiff and L&G have cited the need for job cuts in Cardiff. With the news that the recession has lasted longer than expected and Britains GDP seeing a decrease of 1.9%. the Cardiff jobs market is going to have a difficult year with undoubtedly more rendundancies occuring over the course of the year.
However it is not all doom and gloom for Cardiff;
Cardiff & Co’s managing Director, Richard Thomas states that
"In the economic prosperity index, Cardiff performs well, ranked 15th of the 64 cities surveyed, ahead of Manchester, Liverpool, Birmingham and Glasgow. The capital fares even better, placed ninth, in the built environment index, reflecting the significant investment in the city. The strengthening of our infra- structure in the estimated £2.4bn regeneration of Cardiff Bay, the iconic Millennium Stadium and Wales Millennium Centre, and the £675m St David’s 2 shopping centre should provide the city with a platform for economic recovery. Our assets will be further strengthened this summer with the opening of a state-of-the-art stadium, befitting Cardiff City’s aspirations for top-flight football and the Blues rugby team, who remain unbeaten in Europe’s Heineken Cup."
With it seemingly impossible to say when Wales will be hit the 'bottom' of the recession the availability of jobs may carry on decreasing until those infamous "green shoots" re appear.
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