Yes, we have had job losses for well over a year but they seem to be accelerating. It's not just the job losses but also the reduced overtime for those that remain employed. Back in the late 60's, my industry went through a lean time, no over time, it was tough on my mates with their mortgages, even though houses were very affordable in those days.
Job losses, plus most probably increased interest rates equals a major correction in house prices.
While 28,900 part-time jobs were added in October, 27,900 full-time jobs were shed, continuing the process of casualisation that has condemned many workers to precarious low-paid work.
