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8,000 jobs created by PPI scandal; your money.

Byline: GRAHAM HISCOTT

MORE than 8,000 jobs have been created by the payment protection insurance scandal, recruitment firm Manpower estimates.

Banks have hired an army of workers to deal with a flood of claims from customers who think they've been mis-sold policies.

Manpower reckon 10,000 are employed in banks and other financial firms, 8,000 of whom are new recruits rather than moved from other jobs. The number is expected to rise even further, with 13% more firms in the financial sector planning on boosting staff numbers over the next three months than cut them.

An avalanche of PPI refunds is also expected to provide much needed help for the double-dip hit economy.

James Hick, a Manpower board member, said: "The average pay-out is pounds 3,000 per customer so that is a big boost to the economy."
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Title Annotation:Business
Publication:The Mirror (London, England)
Date:Jun 12, 2012
Words:140
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