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.
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Dean Popplewell
He has a deep understanding of market fundamentals and the impact of global events on capital markets.
He is respected among professional traders for his skilled analysis and career history as global head
of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean
has played an instrumental role in driving awareness of the forex market as an emerging asset class
for retail investors, as well as providing expert counsel to a number of internal teams on how to best
serve clients and industry stakeholders.
Latest posts by Dean Popplewell (see all)
- Euro zone bond yields sink as German manufacturing slows - 24 July 2019
- How Boris Johnson Plans to Deliver Brexit in 100 Days - 24 July 2019
- Weak PMI’s Sink EUR - 24 July 2019