Job losses forecast by cebr

02/01/2009

Job losses will rise and the recession will worsen in 2009, according to a respected business group.

The Centre for Economic and Business Research (cebr) released new analysis today, showing that next year will see "stagnant" growth.

Government figures predict that the economy will shrink by around one per cent over the year.

Falling industrial output and rising unemployment are predicted to be crucial factors behind the downturn.

In fact, unemployment has already spiked to 1.86 million, an eight-year high.

Charles Davis, economist at cebr, said: "We will be continuing with rising unemployment; unemployment is an increasingly pervasive thing across society unfortunately as businesses struggle with their bottom line and have these difficult decisions [to make].

"We'll probably see in the fourth quarter of 2008 there to be no growth and the contraction will probably be larger than the contraction we saw in quarter three and we expect a basically stagnant 2009, with output falling overall over the year and unemployment rising."

Tags; Young Family Finances, Job loss, Recent Graduate Debt,

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