Unemployment predicted to hit 2.7 million in 2011

A new report by the Chartered Institute of Personnel and Development (CIPD) has warned 80,000 private sector and 120,000 public sector jobs will be lost in 2011.

Unemployment is forecast to rise to 2.7 million in 2011 which will expose the hoax that the private sector can create enough jobs to absorb job losses in the public sector.

The CIPD predicts that those jobs that are created will be part-time or temporary/agency work. It also says that  below-inflation pay rises of just 2pc will be the norm, which will hit any hopes of a strong recovery.

The CIPD warns even with the “plausible” scenarios, “2011 will overall be a worse year for jobs than 2010”. John Philpott, chief economist, said: “Things only have to turn out a bit worse than expected in the wider economy for the jobs situation to weaken, which remains the CIPD’s central forecast.”

The CIPD forecast follows a report by Totaljobs.com which warned unemployment is expected to rise in 2011 as the VAT increase hits employer and consumer confidence.

More to follow……..

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