Job losses set to double as employment market still on ropes
The number of job losses looks set to double as the outlook for employment worsens and cuts spread to the public sector, a gloomy new report predicted today.
A survey ofmore than 700 employers also revealed a “substantial” fall in employment intentions among public sector organisations, marking a “difficult” first quarter of the year for jobs. The Chartered Institute of Personnel and Development (CIPD) said the jobs market was still “on the ropes”, with a number of concerns ahead, including more outsourcing of work.
The study showed there was overall return to growth in sight for jobs, with employers planning to cut their staff by over 6% in the current quarter. More employers were planning to cut staff rather than hire new workers, and the outlook was particularly “bleak” in the public sector.
Public administration and defence will be particularly badly hit for jobs, it was warned.
The report was published ahead of new unemployment figures on Wednesday which will show that around 2.5 million people are out of work.