A report in industry newspaper, Financial Adviser, has highlighted figures released by the Office for National Statistics that redundancy is at its lowest level ever . Rates show that just 6 in 1,000 workers were made redundant in 2003.
Our view
Great news - it shows that whilst the economy is still volatile, businesses are becoming better at managing their business affairs in times of difficulty - not that 2003 was a particularly difficult year. Let us see what happens when interest rate increases start to bite.