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Employers 'have finger on unemployment trigger'

Mon 14 Jul 2008

The Chartered Institute of Personnel Development has said many employers are ready to sack workers. Ahead of the Bank of England's interest rate decision, it warned any interest rate hike could lead to a job 'cull' and an increase in unemployment. Chief economist, John Philpott said: "Many employers have their finger on the redundancy trigger," Onrec.com has reported. Mr Philpott said the CIPD's earlier assessment of the UK jobs market was now looking "relatively optimistic" and noted any significant cuts and "the economy could witness a sudden 'avalanche' of redundancies". Some call centre jobs have already been cut, although the greatest losses have been in construction jobs –Taylor Wimpey fired 200 and Persimmon sacked more than 1,000 earlier this week. Both industrial jobs and commercial jobs could be at risk if the UK goes into recession - despite recent government figures showing the number of available jobs is increasing. Labour market data to April showed the number of vacancies was 678,600, up 100 from the previous quarter.


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