CIPD: Employment levels likely to continue to rise
Predictions of wide-ranging redundancies in the UK are "pessimistic", the Chartered Institute of Personnel and Development (CIPD) has said.
Speaking to Personnel Today, the organisation was commenting on recent research from Capital Economics which suggested that up to 440,000 positions could be cut by 2010 as a result of the current economic downturn.
A "jobs avalanche" is possible if the economy continues to worsen, Gerwyn Davies, public policy advisor at the CIPD, said.
However, a more likely scenario is for employment levels to rise "but at a much slower rate than over the past decade", he suggested.
This is supported by the strong demand for professionals in industries where there are significant skills shortages, such as IT, which helps to balance out the dip in recruitment in the financial sector.