Job losses set to increase

Job losses set to increase - depressed young manThe Chartered Institute of Personnel and Development has just released the results of its latest survey of employers and it doesn’t make good reading for jobseekers. Their expectation is that job losses will rise in the first few months of 2011, largely as a direct result of governmental Public Sector cuts.

The Labour Market Outlook survey was taken by 750 employers and the results returned were as follows: 

  • Over 30% said that they will be employing fewer people as a consequence of the government’s latest Comprehensive Spending Review
  • Over 50% of Public Sector employers not surprisingly said that they are looking to make immediate redundancies
  • Nearly 80% of Local Government employers said that they will be cutting their workforces
  • Pay rise expectation has dropped by 13% from 1.5% to 1.3%.
  • Pay settlements are expected to fall in the Public Sector by just under half a percent while the Private Sector anticipates settlements between 2 and 2.5%.

The only glimmer of hope came from the Private Sector employers who said that they expected their workforces to grow by around 20% – especially in services and manufacturing goods

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This article was posted by James Brandon

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