We decided to compile a list of the top 10 professions that have applied for a loan on our site in the last 12 months. Usually we don't like to give out this kind of data because it helps our competitors focus their efforts on attracting customers. On this occasion however, we are doing so because certain people in the media (politicians, reporters) are for some reason trying to spin that the economy is recovering - well it isn't according to our reports!
The social level at which people are needing to apply for loans is rising.
What we have been able to pin point is that the status of the professionals applying for loans has changed from what was seen as more manual labour, unskilled, minimum wage type applicants in 2011, to more professional type roles. This surely has to question the common narrative that the economy is going from strength to strength.
All the data that we have is now starting to show that even those with blue-collar jobs are feeling the pressure of either slowing income of a rise in living costs. We are sure the others will say that this points to other signals in the economy but we aren't so sure. There is certainly a rise in the number of Civil Servant type staff applying for loans. This would seem to confirm the Government cut backs are starting to take effect.
There is one possible final reason why these types of professions are now applying for loans, they could be struggling to find new lines of credit that were previously open to them by mainstream sources. We would need a lot more data before could say that was truly the cause or not. The data below only shows the employment types of the people applying for loans with this site / not those who were accepted. As we deal with applicants that struggle to get credit elsewhere, this could be a significant reason.
Top 10 Applicant Employment types with Quick Loans in 2015
1) Local Authority / Council Staff
2) Armed Forces
5) Self Employed
6) NHS Staff
8) Wider Education (apprenticeships etc)
10) Police Officers
Top 10 Applicant Employment types with Quick Loans in 2011
1) Retail Staff
2) Self Employed
5) Charity sector
6) Call Centre staff
7) On Benefits
8) Transport workers
9) Private Security sector
10) Hospitality sector