Job prospects 'deteriorate alarmingly'

10/02/2009

The UK jobs market is looking increasingly dire, according to the latest quarterly report from accountants KPMG and the Chartered Institute of Personnel and Development (CIPD).

According to the new survey, 36 per cent of employers plan to cut jobs at their firms over the first three months of 2009.

This figure has doubled since the end of last year.

Salaries are also to be squeezed - the poll showed that the typical expectation of staff pay increases stand at just 2.6 per cent over the next few months, down on the last survey's 3.5 per cent.

One in eight employers are also likely to conduct no pay reviews at all.

Commenting on the results, CIPD chief economist John Philpott said: "Job prospects are deteriorating at an alarming rate. The labour market outlook is clearly even worse than expected at the turn of the year."

The government is to release new official unemployment figures tomorrow, on which a rise in the jobless total to over two million is expected.

Tags; Job loss, Recent Graduate Debt,

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