A sharp rise in expected redundancies will hit the UK jobs market hard, the winter CIPD/KPMG Labour Market Outlook survey reveals. It shows that almost two in five (38%) companies intend to make some employees redundant this quarter - a sharp increase on the autumn 2007 Labour Market Outlook survey figure of 17%.
This is the highest quarterly figure for redundancy intentions since the Labour Market Outlook survey began in 2004. The average quarterly figure for redundancy intentions is 21%.
- 25% of employers expecting to make redundancies this quarter report that at least 10 staff will lose their jobs.
- 37 % expect to make fewer than 10 people redundant, with the remainder uncertain of the numbers likely to be involved.
- 48% of public services employers expect to make at least some staff redundant this quarter.
Andrew Smith, chief economist at consultancy KPMG, said: "The survey reflects the general uncertainty about the economic outlook. The number of companies expecting to make redundancies has jumped - but the majority still expect to employ the same or a higher number of staff in 12 months time."
CIPD chief economist John Philpott said: "The survey does suggest that the UK is entering a period of slower employment growth and somewhat greater job insecurity than in recent years."
If you know anyone who is being made redundant and needs help or information please direct them to this website www.newlifenetwork.co.uk.
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