I concede that employment in the big companies may never return to the same levels seen in the noughties; however, the majority of people outside the public sector are employed by small companies like my own. Small companies tend not to export their skills and supply requirements to other countries, unless faced with a price-critical large order, which implies they may not be a small company for much longer.

In my experience most small companies are set up by ex-employees of larger companies. Large companies lay people off who then set up small companies that can survive on a shoestring.

Having said all that, the cheapening of labour remains a grave threat when the cost of living remains unadjusted. Echoes of GreatGrandDad again.