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One million jobs could be lost in recession

Up to a million jobs could be lost during the recession, the Chartered Institute of Personnel and Development has forecast.

The CIPD predicts up to 600,000 jobs could be axed in 2009 with unemployment continuing to rise into 2010, taking the toll of jobs lost through the recession to around a million.

CIPD chief economist John Philpott says: “This time last year, in the face of some scepticism, the CIPD warned that 2008 would be the UK’s worst year for jobs in a decade.

“It was. But in retrospect it will be seen as merely the slow-motion prelude to what will be the worst year for jobs in almost two decades.

He adds: “Overall the 18-month period from the start of the recession in mid-2008 until the end of 2009 will witness the loss of around three quarters of a million jobs, equivalent to the total net rise in employment in the preceding three years.”

Conservative Shadow Work and Pensions Secretary Chris Grayling says: “This report is extremely alarming and underlines the scale of the challenge we face.
“The Government should immediately accept our proposals for a £3bn jobs programme which would at least take some of the sting out of the increase.”

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