Unemployment figures will continue to rise
December 29, 2009
The Chartered Institute of Personnel and Development (CIPD) has announced that levels of unemployment in Britain will continue to rise. The group says that it predicts that people will continue to lose their jobs throughout the winter as employees try to asses the country’s economic situation for 2010. By the summer the number of people out of work will peak at 2.8 million according to the CIPD. However they do admit that this number is far lower than their previous prediction of 3.2 million people without jobs and point out that job prospects are likely to be better next year than they were in 2009.
Chief economic adviser at the CIPD, Dr. John Philpott said that he expects employers in the private sector to keep a tight rein on wages in the years to come. Talking about the public sector he predicted that downsizing and budget cuts were going to be the main concerns for employees. He also said that unemployment figures could go higher than predicted if there are more public spending cuts as there could be if the Conservatives get elected at the next election. He also warned that many employers might be looking at the rise in National Insurance contributions set for 2011 when looking at the number of employees they are able to take on.
Lord McKenzie, the government’s Works and Pensions Minister was keen to point out that recent investment had already managed to keep unemployment figures 400,000 fewer than had been predicted by experts at the last Budget.
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