Over 1m lose jobs during recession
A report by the Chartered Institute of Personnel and Development (CIPD) has revealed that the recession has had more of an impact on jobs than figures suggest.
According to the CIPD, 1.3 million people were made redundant during the recession.
Last week, the Office for National Statistics (ONS) revealed that UK unemployment fell by 7,000 in the three months to November to 2.46 million, taking the unemployment rate down to 7.8%.
Furthermore, the number of Britons claiming jobseeker’s allowance (JSA) fell by more than expected in December, down 15,000 to 1.61 million – its biggest amount since April 2007.
However, the CIPD’s study found that two-thirds of people made redundant were paid an average of 28% less when they managed to find another job.
Commenting on its findings, John Philpott, the CIPD’s economic adviser, John Philpott, said: “Although the scale of job loss in the recession is much less than originally feared… it is evident that the direct experience of redundancy, repeat spells of unemployment and pay penalties has nonetheless been widespread.
“This is likely to have a much greater impact on perceptions of job security and consumer confidence during the recovery than the simple ‘unemployment situation is better than feared’ story of the moment would suggest,” added Mr Philpott.
Employment Minister Jim Knight points out that £5 billion has been invested in the recession to find jobs for people.
Mr Knight said the Government will “continue to invest in jobs, skills and training to support everyone looking for work.”
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