Jobs outlook looks poor
PROSPECTS for new jobs in 2008 are the worst in a decade as private firms recruit fewer staff and the public sector cuts back, according to a report today.
The Chartered Institute of Personnel and Development said 2008 looked like being “easily the worst” for jobs since Labour came to power.
Employment will increase by just 0.25% over the next 12 months, well down on rises recorded in the past few years, said the report.
The institute’s chief economist John Philpott said: “In the early part of the decade, periods of slower growth in private sector employment were masked by relatively rapid growth in public sector jobs.
“A downward trend in public sector employment in the past two years has been more than offset by rising numbers of private sector jobs. But 2008 will be the first year for a decade the engine of job creation will be spluttering right across the economy.
“The squeeze on real incomes experienced by many workers in 2007 will continue to bite.”
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