Fitch Ratings says job cuts are necessary for the economy to grow

  • July 7, 2021

Fitch’s latest job outlook shows the job losses in the sector have forced the company to cut its forecast for the UK economy.

In its latest report on the outlook, Fitch said the sector’s outlook for the next 12 months has been hit by the job cuts in the oil and gas sector.

The firm said in a note to clients the cuts will have a “negative impact” on economic activity.

The job cuts have also caused job losses to be “further exacerbated by a reduction in the number of new hires and retention in the energy sector”, Fitch wrote.

“While these jobs will be lost in the short term, the overall job creation outlook for this sector is likely to be stronger,” the report said.

Fitch said it was not yet clear how many jobs will disappear in the UK, as it is too early to say how much the industry will be affected by the cuts.

It said that while there are now fewer jobs available in the industry than there were in the previous three months, it expects job growth to continue, but only slowly.

A Fitch analyst, John Johnson, said: “The oil and oil and natural gas sector has lost more than 10,000 jobs in the last two years and now faces the prospect of losing more than 20,000 more jobs in a period of 10 months.

There is some good news in the numbers: the energy and gas industry is still adding jobs but the job growth is still very limited.

This means that if we assume the job loss in the renewables sector of 10,500 jobs by 2020, the industry is now likely to add about 3,000 new jobs in 2020.

We have a strong case that the UK could become an energy powerhouse in the future, but the fact that so many of the jobs will not be lost means that it will be a difficult time for the industry.”

Firms that rely on oil and other gas will also face the threat of job losses, with the energy analyst warning of a “severe disruption” in oil and the gas sector’s ability to deliver projects, according to Fitch.

More: Fitch forecasts that the oil-related job losses will lead to a contraction in the services sector, which has been the fastest-growing sector of the UK’s economy in the past two years.

It also expects a “moderate” contraction in manufacturing and construction.

In its latest forecast for UK jobs, Fitches forecast that the industry’s output will fall by 4.5% over the next four years and the UK GDP will shrink by 2.6%.

FITCH also said that “business investment in the economy” will be cut by 3.2% over this period, a significant reduction from the previous forecast of a 1.3% decline.

Last month, the British Chambers of Commerce (BCC) warned that Britain’s unemployment rate could climb above 10% by 2020 as a result of the job and energy sector job cuts.

For more business news and opinion: Follow Business Insider Australia on Facebook, Twitter and LinkedIn.

Sponsored Content

2021 베스트 바카라사이트 | 우리카지노계열 - 쿠쿠카지노.2021 년 국내 최고 온라인 카지노사이트.100% 검증된 카지노사이트들만 추천하여 드립니다.온라인카지노,메리트카지노(더킹카지노),파라오카지노,퍼스트카지노,코인카지노,바카라,포커,블랙잭,슬롯머신 등 설명서.바카라 사이트【 우리카지노가입쿠폰 】- 슈터카지노.슈터카지노 에 오신 것을 환영합니다. 100% 안전 검증 온라인 카지노 사이트를 사용하는 것이좋습니다. 우리추천,메리트카지노(더킹카지노),파라오카지노,퍼스트카지노,코인카지노,샌즈카지노(예스카지노),바카라,포커,슬롯머신,블랙잭, 등 설명서.우리카지노 | 카지노사이트 | 더킹카지노 - 【신규가입쿠폰】.우리카지노는 국내 카지노 사이트 브랜드이다. 우리 카지노는 15년의 전통을 가지고 있으며, 메리트 카지노, 더킹카지노, 샌즈 카지노, 코인 카지노, 파라오카지노, 007 카지노, 퍼스트 카지노, 코인카지노가 온라인 카지노로 운영되고 있습니다.우리카지노 | TOP 카지노사이트 |[신규가입쿠폰] 바카라사이트 - 럭키카지노.바카라사이트,카지노사이트,우리카지노에서는 신규쿠폰,활동쿠폰,가입머니,꽁머니를홍보 일환으로 지급해드리고 있습니다. 믿을 수 있는 사이트만 소개하고 있어 온라인 카지노 바카라 게임을 즐기실 수 있습니다.우리카지노 - 【바카라사이트】카지노사이트인포,메리트카지노,샌즈카지노.바카라사이트인포는,2020년 최고의 우리카지노만추천합니다.카지노 바카라 007카지노,솔카지노,퍼스트카지노,코인카지노등 안전놀이터 먹튀없이 즐길수 있는카지노사이트인포에서 가입구폰 오링쿠폰 다양이벤트 진행.【우리카지노】바카라사이트 100% 검증 카지노사이트 - 승리카지노.【우리카지노】카지노사이트 추천 순위 사이트만 야심차게 모아 놓았습니다. 2021년 가장 인기있는 카지노사이트, 바카라 사이트, 룰렛, 슬롯, 블랙잭 등을 세심하게 검토하여 100% 검증된 안전한 온라인 카지노 사이트를 추천 해드리고 있습니다.