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PPI scandal 'creating jobs in banks'

The Payment Protection Insurance (PPI) scandal has resulted in banks taking on new employees.

This is according to managing director of ManpowerGroup UK Mark Cahill, who pointed out that while it is well-known this industry is "shedding thousands of jobs", lenders have already had to hire a large number of temporary staff to deal with the PPI claims "fallout".

He noted that this employment will not be "for life", although many banks have revealed they have had to increase the amount of cash they have earmarked for PPI refunds.

"As a result, the finance sector - so critical to the UK economy - is going to need to hold on to these workers for some time to come," the specialist declared.

Manpower claims over 8,000 jobs have been created due to the PPI scandal, with the substantial bank refunds people who were missold this policy receive also likely to improve the nation's economy, the Mirror reports.ADNFCR-2776-ID-801384129-ADNFCR

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