Financial Small Business

Posts Tagged ‘Business Finance Jobs’

2011 has been much like the last 3 years, i.e it has been pretty dismal since the recession for the average job seeker or employee. If you are still employed, you are nervous about keeping your job while the those that are unemployed are competing again another 2.5 million unemployed in the UK. The banking industry seen as the cause of the 2007 recession, is also had its fair share of fatalities, with Northern Rock in the UK having gone to the wall. There have been a number of high profile finance company failings, with the associated retrenchments as jobs in finance with these companies being made no longer. Lloyd’s had the nonsense with the merger under Gordon Brown and RBS nearly went to the wall themselves. Although these businesses didn’t fail they did make thousands of people working in banking and finance redundant. Following 2007, both retail divisions and merchant banking activity has been mostly benign, with no mergers, little re-financing, little consumer lending taking place. So all in-all finance jobs across the banking industry has been somewhat dead. So what has been happening to the bank employees and what is the prediction for 2012?

It all depends on the global economy. Starting with the Uk, the UK banks are still re-capitalising and therefore not lending to local business and retail lending to the consumer is therefore likely to stay dead. Europe is in a shambles, as Germany and France try tighten the EU unity, forcing the southern European countries to tighter fiscal management. Whether the EU fails or not, the fact remains is that there is a lot of deficit that needs to be either written of by the European banks or these debts will need to be written off at sovereign level.. In short, regardless of which route the EU foes, there is a few years of pain coming. So this does not bode well for the finance person engaging in job search at the moment, does it? If we look across the pond, the USA whilst having the biggest government and trade deficit is not looking to bad as banks there have been re-capitalising their banks seem to be moving beyond their sub-prime issues. So, can we conclude from this, that if you are looking for a job in finance, the USA is the place to be……