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Saturday 06th of February 2010
March 6, 2009    

CIPD: Easter may see turnaround in jobs market

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by Kay Murchie

The Chartered Institute of Personnel and Development (CIPD) believes Easter could bring some much awaited good news for the economy.

The organisation said the worst of the job cuts could come to an end by Easter.

Unemployment in the UK has soared over recent months with the figure reaching 1.97 million between October and December 2008 - a level not seen since 1997.

Meanwhile, the CIPD said recession related redundancies in the UK have echoed those across the Atlantic.

According to the CIPD survey, one in three US employers cut jobs in the final quarter of last year - not dissimilar to the number of firms in the UK anticipating redundancies in the first quarter of this year.

The CIPD’s Gerwyn Davies told the BBC that the survey suggested there was “a marked degree of transatlantic trauma affecting the jobs market”.

According to the CIPD, there will be 600,000 job cuts in the UK in 2009 and in proportionate terms, this is in line with the 2.6 million jobs lost to the US economy in 2008.

The US Labor Department is expected to release payroll figures later today, which is expected to show that US workers had a tough month.

The figures are expected to show that 650,000 jobs were lost during February - up from 598,000 the previous month.

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