One job to be lost every 25 seconds in next three months in Britain

LONDON, March 2 (Chinese media) -- About 320,000 jobs look set to be lost in the next three months as the recession hits home in Britain, equating to a job lost every 25 seconds, experts warned.

If the cull continued at the same rate for the rest of the year unemployment would hit 3.06 million when job losses are seen in all sectors of business, from services to manufacturing, and among both large and small firms, business adviser BDO Stoy Hayward predicted.

"Businesses are taking swift and decisive action to tackle the challenges of the recession," its report said.

The jobless total in Britain now stands at 1.97 million.

In a glimmer of hope, the report indicates its optimism index, which predicts business confidence for the next two quarters rose slightly in February compared with January.

Meanwhile, the Engineering Employers' Federation (EEF) warned more than 140,000 manufacturing posts would be lost this year.

The EEF predicted the sector would shrink by 8.6 percent this year, the worst decline since the recession of the 1980s.

And the British Retail Consortium painted a bleak picture for the high street, estimating 140,000 premises would be empty by the end of 2009.

It wants lower rents and a freeze on business rates. Business Director Jane Milne said "urgent action is needed. Boarded-up shops help no one."