More job cuts if the economy does not pick up
Date published: 13 August 2012
Employers are facing a "make-or-break moment" as many will have to make job cuts if the economy does not pick up, according to a report by the Chartered Institute of Personnel and Development (CIPD). The survey showed that a third of private sector employers had kept on more staff than they needed to avoid losing skills.
But almost two-thirds said they would have to cut back if economic growth did not pick up in the next year.
Unemployment has been falling in 2012.
Figures from the Office for National Statistics (ONS) showed that unemployment fell to 2.58 million in the three months to May. It had been as high as 2.68 million in November last year.
But the CIPD said the recent trajectory of the jobs market could change course if the economy does not start growing again.
The ONS is due to publish its latest data for the labour market on Wednesday.
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