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Saturday 27th of February 2010
February 23, 2010    

PwC report reveals more job woes

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by Kay Murchie

A report from accountants PricewaterhouseCoopers (PwC) has revealed more disappointment in the jobs market despite the UK emerging from recession in the fourth quarter of 2009.

The report, which is based on interviews with bosses of 70 of the country’s largest companies, found that 28% of bosses are planning redundancies over the next year.

The findings will undoubtedly cause concern to private sector staff who hoped the end of the recession meant job security.

Commenting on the findings, Michael Rendell, a partner at PwC warned that Britain’s jobs market was “stagnant” but added: “There are always opportunities for the best people.

“Some organisations have used the downturn to poach from competitors that failed to ring-fence top performers,” he added.

Meanwhile, in addition to the bosses planning to trim headcount, a further 30% said they were not planning to recruit this year. However, 42% said they plan to increase numbers.

The report comes after official figures last week revealed the number of unemployed people hit 2.46 million. The UK’s unemployment rate currently stands at 7.8%.

Many leading business groups believe unemployment could hit 3 million this year.

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