Joblessness to climb over the coming year, experts warn
Unemployment will increase, fewer new jobs will be created and there will more downward pressure on pay next year, a report has warned. The economy will continue to suffer from low productivity and continued uncertainty about the arrangements for leaving the EU, said the study from Chartered Institute of Personnel and Development (CIPD).
The group claimed the next 12 months would be challenging for the Government and businesses, with pay, Brexit, productivity and the gig economy dominating the labour market.
Ian Brinkley, of the CIPD, added: "The Brexit vote didn't cause the economy to fall off a cliff edge in 2016, but there's been a clear loss of confidence in international markets, signalled by the fall in the pound and slowing inward investment.
"The single biggest thing that the Government could do to help in 2017 would be to give businesses greater certainty over the direction of travel, the residence status of migrants already in the country and the likely extent of restrictions on new flows of migrants."