UK unemployment seen at its worst in 20 years in 2012
29 Dec 2011
The UK jobs market at the start of 2012 is expected be the worst in 20 years. A grim report yesterday warned, the number of people out of work in the UK was expected to go up by 260,000 before reaching a peak of 2.9 million in the summer of 2013.
In the report, the Chartered Institute of Personnel and Development (CIPD) also expressed fears it would take until 2016 for unemployment to be down to last year's level.
According to John Philpott, chief economic adviser of CIPD, if their forecast proved correct, 2012 would see the highest number of unemployed since 1994 and the highest unemployment rate, 8.8 per cent, since 1995.
He added that the latter years, however were years of recovery and the last time unemployment was at 8.8 per cent and rising in 1991, the economy was in recession.
He said the UK jobs market in 2012 was set to be in a worse state than at any time in two decades.
The report also poured cold water on government efforts aimed at addressing youth unemployment, which broke the 1million barrier last month, the highest total since records began in 1992.
According to Ian Austin, shadow work and pensions minister, as the country stepped into 2012, it was crystal clear that the government was failing to get people off benefits and into work.
According to TUC general secretary Brendan Barber, as the economy continued to weaken, the government's ridiculous plan to build the recovery off the back of deep spending cuts lay in tatters.
.webp)
