HRreview Header

Worst is yet to come for jobs market, warns IES

Unemployment could get worse before it gets better, the IES has claimedCutbacks in government spending are likely to result in more jobs being lost over the next few months, according to a representative from the Institute for Employment Studies (IES).

Responding to new employment figures from the Office for National Statistics (ONS), IES research director Jim Hillage warned that it could be a number of months before the full impact of reductions in public sector expenditure becomes clear.

"As these trends gather pace in the coming months, overall unemployment is likely to rise unless the recovery in the private sector will be sufficient to compensate for significant public sector job losses," he explained.

Mr Hilliard observed that the amount of job vacancies among public sector bodies is beginning to "contract sharply" and that the early indicators of a downturn are becoming apparent.

However, the latest round of ONS data showed a drop in unemployment, with the number of British adults out of work currently standing at 2.46 million.

Posted by Ross George



Share

Latest News

Latest Analysis

Related Articles

Richard Branson on Prioritising People Over Profit

“Clients do not come first. Employees come first. If you take care of your...

European workers ‘fear negative impact’ of US corporate culture in the workplace

Employees across Europe are voicing unease over the growing influence of American workplace culture within their organisations.

New pension reform to consolidate small pots and cut admin burden

The UK government announced a new policy to help workers keep track of their retirement savings by consolidating small pension pots.

UK professionals take on extra work as side hustles ‘extend weekly hours’

A growing number of UK professionals are extending their working week as side hustles become increasingly common.