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CIPD survey shows improved optimism among private firms

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by Kay Mitchell

The Chartered Institute of Personnel and Development (CIPD) said there are signs of improved optimism among private firms with the pace of job losses slowing.

However, it is a different story within the public sector with growing pessimism among firms.

A survey conducted by the organisation, from 923 of its members, found that the number of public sector employers expecting to reduce headcount has increased.

According to the CIPD, 10% more employers planned to cut its workforce in the three months from June rather than hire staff.

However, this is still a slight improvement on the previous three months, when the balance was 19%.

In the meantime, the balance of firms within the private sector shedding staff over those hiring staff has fallen from 30% to 2%.

In stark contrast, the public sector figure has grown from 3% to 28%, with reductions in some areas of public spending expected.

According to John Philpott, chief economist at the CIPD, local authorities are currently experiencing severe financial pressure with budgets being squeezed.

Finally, official unemployment figures are due later this week but the CIPD still believes unemployment is on target to reach just over 3 million in 2010 and is not ruling out further private sector redundancies later this year.

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News posted: August 10, 2009

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