As many as 200,000 jobs in the UK could be shed in 2011 in what is predicted to be a “worse year for jobs” in 17 years, an analysis revealed.
Raising fresh doubt over the pace of the UK’s economic recovery, a report by the Chartered Institute of Personnel and Development (CIPD) warned 80,000 private sector and 120,000 public sector jobs will be lost next year.
Unemployment is forecast to rise from 7.9pc to 9pc, or 2.7m, in 2011 as the private sector struggles to create jobs to offset wide-scale state redundancies.
Any jobs that are generated are likely to be part-time or temporary, while workers can expect to endure below-inflation pay rises of just 2pc, the CIPD’s economic forecast, published today, showed.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.