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Jobs created to keep up PPI flow

It is thought that at least 20,000 jobs have been created to help deal with the increase in claims over mis-sold payment protection insurance (PPI), Manpower employment group have stated.

The report says that these jobs have been created by big banks and it has not taken into account the number of jobs created by companies acting as middle men for people making claims.

The findings have come to light in the quarterly look at the employment situation in the UK.

Overall, the UK’s employment situation is the best now since the recession began.

Manpower said that more employers had plans in place to increase their personnel numbers over the second quarter of the year after surveying more than 2,000 firms.
These findings echo the official data that shows record amounts of people are in work.

But the survey’s results are not as positive as they first seem according to the managing director of Manpower, Mark Cahill.  Mr. Cahill believes that although it looks like we are in a boom, these jobs have been created as a direct mis-selling of PPI and interest rate swaps in the first place.

However, the number of jobs created to deal with PPI claims is set to continue as more and more banks are setting aside larger sums of money to deal with the claims being made.

 





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