Posts Tagged ‘CIPD’
Eurozone crisis blamed for gloomy jobs market
Jobseekers in the UK have a rocky time ahead of them, with businesses expected to put expansion and recruitment plans on hold for the foreseeable future, according to new research.
The latest quarterly survey by the Chartered Institute of Personnel and Development warns that the UK jobs market is facing a “slow, painful contraction”.
The survey of 1,000 employers suggests that situation will worsen for the remainder of 2011 and remain poor for the medium term.
Growth in the private sector is expected to slow down over the next three months and public sector confidence is also expected to remain low and to worsen next year.
Although new recruitment will slow down, the CIPD did suggest that global economic uncertainty makes it less likely that UK jobs will be outsourced abroad.
Mark Hoban, the financial secretary to the Treasury, attributed the gloomy prospects to the ongoing crisis in the eurozone, although Labour has been quick to point out that unemployment was rising before problems in the eurozone became apparent.
Despite predictions of difficult times ahead, Mr Hoban said that the government will continue to push ahead with its deficit reduction plan.
It will, however, publish further plans to generate economic growth in the UK at the end of this month
Gerwyn Davies, the CIPD’s public policy adviser, said: “Many firms appear to be locked in wait and see mode, with some companies scaling back on all employment decisions against a backdrop of increasing uncertainty as a result of the eurozone crisis and wider global economic turmoil”.
Meanwhile, former Labour Prime Minister Tony Blair today warned that a breakup of the eurozone would be ‘catastrophic’ and that the current crisis is the worst ever faced by the economic and monetary union.
Mr Blair is calling for the ‘whole weight of Europe’ to support the single currency and to help resolve debt crisis which is threatening the future of the eurozone.
CIPD revise growth and unemployment forecasts
The Chartered Institute of Personnel and Development (CIPD) has today provided an assessment for the UK economy. It has revised its growth forecasts to 1.4% for the 2011 year, down from its previous estimate of 1.6%. The estimate is roughly in line with other forecasts after the International Monetary Fund recently said the UK economy [...]
UK unemployment rate holding steady at 7.8%
The Office for National Statistics (ONS) has today revealed UK unemployment dipped in the three months to June. According to the ONS, the number of people unemployed in the UK fell to 2.457 million. The ONS said the jobless total dived by 49,000 in the three month period – representing the biggest quarterly drop since [...]
UK jobs market recovery in danger of stalling
Cutbacks in the public sector will be impacting on UK jobseekers across all sectors between now and the end of the year, according to research from The Chartered Institute of Personnel and Development (CIPD). The professional body has warned that employers are expecting to make an average 5.5% headcount reduction in the remainder of 2010, [...]
CIPD warns of jobs deficit amid spending cuts
The Chartered Institute of Personnel and Development (CIPD) has warned of higher unemployment if economic growth misses forecasts.
According to the employment group, growth needs to be at least 2.5% between now and 2015, in order for the private sector to create sufficient jobs to offset those that would be lost as a result [...]