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Info on job situation

Travel Forums Europe Info on job situation

1. Posted by Calcruzer (Moderator 1998 posts) 7y

Okay, so here's the thing:

I was laid off about a month ago, and the job market in California is the worst it has been in over 25 years (and probably worst in about 80 years) with the local unemployment rate where I live over 20% and the foreclosure rate at about 5%. I travelled to the UK three times last year for business and really enjoyed it there (and the people there).

Since I can qualify for a permanent visa to the UK (to actually move there), I'm wondering if I choose this option, how difficult do you think it would be for an American with a Certified Public Accounting license (but not a British Chartered Accountancy license) with 20 years of finance and IT experience to get a job in London or Manchester right now. Unfortunately, I have never worked for a bank, which is probably the most likely employer, so you need to consider that in your answer.

The California area where I live is beautiful, but expensive, so my home will sell for over 500,000 British pounds even in the bad economy, and I probably owe half that amount on it. I know London costs are also quite high, but I have other money to bring in addition to this to make the move and am not looking for any government assistance (in fact, by law, I have to pay the British government back for any medical services I receive while in the country).

Also, I have heard that many companies might hire accountants on a temporary contract basis, which I would be fine with.

Lastly, I'm aware that may British people may not welcome foreigners coming over to take jobs that they feel should go to British citizens first. Even here in the US we have an issue at this time with foreigners who are being hired to come take American jobs here in the US. So, is this fact likely to affect my search?

Any advice (even if it advice to stay home) is welcome. I just want to understand the environment in London and Manchester right now.


2. Posted by Buzzcock (Full Member 178 posts) 7y

Calcruzer, our recession is about a year behind yours, though the causes, symptoms and cough 'solutions' (printing ever worthless money) are pretty much the same. I'm an engineer by profession, not an accountant, though I think that your assertions regarding temporary contract work are pretty much correct. It is not so much hostility from the natives that is likely to be an issue, as the fact that all European Union citizens will have priority over you, so it is not just British workers that you are competing with. I hope that this doesn't sound like a piece of 'stay home' advice, more that the EU is now one single employment market and it is illegal for an employer in one country to discriminate against citizens from another EU country. With most if not all of these countries experiencing various degrees of recession it will be very difficult for anyone without citizenship of an EU country to obtain employment within the EU at present.

3. Posted by Redpaddy (Inactive 1004 posts) 7y

Wholeheartedly agree with Buzzcock - Post #2#.
The recession is worldwide (with very little exception). Coming to the UK, then looking for work might not be the answer.
I would strongly advise looking up job possibilities on the web - and getting some sort of "One foot in the door", before you commit yourself.
Good luck.

4. Posted by Calcruzer (Moderator 1998 posts) 7y

Thank you Buzzcock and Redpaddy for your advice.

Based upon what you say, I think I'll put off my plan to relocate until such time as this recession has ended.

5. Posted by Buzzcock (Full Member 178 posts) 7y

Quoting Calcruzer

Thank you Buzzcock and Redpaddy for your advice.

Based upon what you say, I think I'll put off my plan to relocate until such time as this recession has ended.

Calcruzer, good luck with finding employment wherever it is. There is no harm in enquiring but British banks, many of whom you are aware are now in trouble, are planning to lay of thousands of staff.

On the general point regarding the EU, an employer now has to prove that it cannot obtain suitably skilled / qualified staff from within the EU before making a job offer and hence facilitating a work visa to anyone from outside the EU, so before making an offer to a US citizen, the employer would have to prove that it had tried recruiting from Poland, Latvia, Hungary etc ...

As the USA is the first into recession then it ought to be first out. Proportionately the financial sector is not as large in the USA as it is in the UK (at 20%), where it is likely to shrink considerably.