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Unemployment set to jump by 200,000 in 2011, warns CIPD

Unemployment could rise by up to 200,000 next year as Government cuts to the public sector and tough economic conditions impact on the jobs market, research from the Chartered Institute of Personnel and Development warns.
 
The report is likely to raise fresh concerns over whether the private sector will be able to fill the employment gap following confirmation from the Office for Budget Responsibility last month 330,000 civil servants face redundancy over the next four years, the Daily Telegraph reports.
 
CIPD chief economist John Philpott told the paper 2011 could be “a worse year for jobs than 2010”.

He said: “Things only have to turn out a bit worse than expected in the wider economy for the jobs situation to weaken, which remains the CIPD’s central forecast.”
 
Unemployment currently stands at 7.9 per cent, according to the latest figures from the Office for National Statistics. The CIPD forecasts that figure will jump to 9 per cent in 2011 with 80,000 private sector and 120,000 public sector jobs being lost.

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Guide: how to… communicate with your pension members

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. Armed with this information, should lenders take the responsibility to advise all mortgage customers to consider unemployment insurance.

  2. If Hector Sants has his way, 10,000 will be IFA’s and I guess that each may employ directly or indirectly 3 futher people so 40,000 or 20% of the above figure will be directly due to regulation!
    Happy 2011 to all!

  3. Dole for a Civil Servant costs less than a good salary and an inflation proofed final salary pension scheme.

    It’s time for those who have not been efficient to pay the piper…

  4. No doubt Sants & Turner will raise a glass here,as many of these will be good honest hard working brokers and their loyal staff.

  5. More like 500,000 unemployed if you ask me.

    Sadly not yet heard of any new incentives that actually encourage employment or increased profit or any incentives to create jobs in high unemployment areas.

    Just taking more and more taxes from existing wealth creators without giving any incentives to create new or increased wealth is hardly going to improve matters.

    Taxes are far far too high the incentives to create wealth are now tipped too far one way.

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