The Chartered Institute of Personnel and Development (CIPD) have said the UK labour market faces a "slow, painful contraction" with firms delaying recruitment. Its quarterly survey found firms' future hiring plans dwarfed by likely public sector losses with potential employers adopting a "wait and see" policy towards the economy.
CIPD public policy adviser Gerwyn Davies is reported as saying "The good news resulting from this lull in business activity is that fewer employers are looking to relocate abroad or make redundancies.
"The downside is that recruitment intentions are falling, which will make further rises in unemployment therefore seem inevitable given that public sector job losses are outpacing the predictions”.
Lets hope the contractions are not ....caused by a phantom pregnancy because no one can see the baby
CM
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