World Economic outlook - CIPD predictions UK Unemployment will rise 2012 : Unemployment will rise further in 2012, peaking at 2.85m in 2013 from 2.64m currently, says the Chartered Institute of Personnel and Development.
New figures from the Chartered Institute of Personnel and Development (CIPD) have warned that the number of people out of work in the UK is set to rise again in 2012.
According to the organisation, there will be 2.85 million people jobless by next year as another 120,000 Britons lose their jobs. This would mean an unemployment rate of 8.8 per cent, the highest since 1994.
Furthermore, the CIPD believes that by 2013, unemployment will have peaked at 2.9 million and may not go below 2.5 million before the end of this decade as the economy continues to struggle.
Dr John Philpott from the organisation said companies are set for a "productivity pause" as they do everything they can to keep their businesses afloat and in profit.
He also warned that the effects of joblessness may create a "tetchy, passive-aggressive mood in many workplaces", testing the resilience of the workforce more than the recent recession.
"Unemployment in the coming year will be rising from a much higher starting point, so the UK jobs market in 2012 will be weaker than at any time since the recession of the early 1990s," Dr Philpott commented.
However, forecasts from the CIPD suggest that government policies should help to curb the rise in youth unemployment and prevent people being out of work for long periods of time.
This comes after the CIPD said in November that it expects a "slow, painful contraction" of the jobs market, predicting that businesses will delay the recruitment of more staff in the medium term to wait and see how the economy fares.source http://www.bbc.co.uk/news/business-16342072
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