Menu
14/11/2011
Jobs Market Faces 'Slow And Painful' Contraction
A UK employers group has announced on Monday that it predicts a "slow and painful" contraction in the UKs job market.
Findings from the Chartered Institute of Personnel and Development’s (CIPD), revealed that UK employers are scaling back on all employment-related operations; while organisations are stalling plans to offshore jobs abroad, recruit overseas workers or make redundancies.
The analysis comes from the CIPD's Labour Market Outlook report, which surveyed more than 1,000 employers.
According to its findings, the employment situation will deteriorate further in the fourth quarter of 2011, becoming the second successive quarterly fall and biggest since last winter.
The CIPD found that medium-term prospects were no better, and although the private sector looks set to grow in the next three months it will be at a slower pace than in recent quarters.
Meanwhile, confidence in the public sector remains low for the next three months and is even lower for the year ahead. Meanwhile, the voluntary sector has seen no movement in net employment intentions for the fourth quarter of 2011.
Gerwyn Davies, Public Policy Adviser at the CIPD, said: “The figures point to a slow, painful contraction in the jobs market. Many firms appear to be locked in ‘wait and see’ mode, with some companies scaling back on all employment decisions against a backdrop of increasing uncertainty as a result of the eurozone crisis and wider global economic turmoil.
"The good news resulting from this lull in business activity is that fewer employers are looking to relocate abroad or make redundancies. The downside is that recruitment intentions are falling, which will make further rises in unemployment therefore seem inevitable given that public sector job losses are outpacing the predictions made by the Office for Budget Responsibility.
"There is no immediate sign of UK labour market conditions improving in the short or medium term.”
The report says that employers also seem to be hedging their bets on all employment-related decisions in response to the current economic uncertainty: hiring intentions and redundancy intentions have fallen across all sectors compared with recent previous reports.
The proportion of firms intending to hire migrant workers, which has risen steadily in recent consecutive quarters, has also fallen to 19% from 25% during the past three months, while, the proportion of firms planning to offshore jobs to other parts of the world has also decreased to 6% from 10% in the past year.
India remains the most popular destination for offshoring, with half of employers surveyed planning to locate some or all of their operations in India. The functions most likely to be offshored are finance and accounts and IT support.
(DW)
Findings from the Chartered Institute of Personnel and Development’s (CIPD), revealed that UK employers are scaling back on all employment-related operations; while organisations are stalling plans to offshore jobs abroad, recruit overseas workers or make redundancies.
The analysis comes from the CIPD's Labour Market Outlook report, which surveyed more than 1,000 employers.
According to its findings, the employment situation will deteriorate further in the fourth quarter of 2011, becoming the second successive quarterly fall and biggest since last winter.
The CIPD found that medium-term prospects were no better, and although the private sector looks set to grow in the next three months it will be at a slower pace than in recent quarters.
Meanwhile, confidence in the public sector remains low for the next three months and is even lower for the year ahead. Meanwhile, the voluntary sector has seen no movement in net employment intentions for the fourth quarter of 2011.
Gerwyn Davies, Public Policy Adviser at the CIPD, said: “The figures point to a slow, painful contraction in the jobs market. Many firms appear to be locked in ‘wait and see’ mode, with some companies scaling back on all employment decisions against a backdrop of increasing uncertainty as a result of the eurozone crisis and wider global economic turmoil.
"The good news resulting from this lull in business activity is that fewer employers are looking to relocate abroad or make redundancies. The downside is that recruitment intentions are falling, which will make further rises in unemployment therefore seem inevitable given that public sector job losses are outpacing the predictions made by the Office for Budget Responsibility.
"There is no immediate sign of UK labour market conditions improving in the short or medium term.”
The report says that employers also seem to be hedging their bets on all employment-related decisions in response to the current economic uncertainty: hiring intentions and redundancy intentions have fallen across all sectors compared with recent previous reports.
The proportion of firms intending to hire migrant workers, which has risen steadily in recent consecutive quarters, has also fallen to 19% from 25% during the past three months, while, the proportion of firms planning to offshore jobs to other parts of the world has also decreased to 6% from 10% in the past year.
India remains the most popular destination for offshoring, with half of employers surveyed planning to locate some or all of their operations in India. The functions most likely to be offshored are finance and accounts and IT support.
(DW)
Related Northern Ireland Recruitment News Stories
Click here for the latest headlines.
18 August 2015
Four Major Jobs Fairs And Advice Forums Announced
Employment and Learning Minister Dr Stephen Farry has announced a series of four major Jobs Fairs and Advice Forums.
Four Major Jobs Fairs And Advice Forums Announced
Employment and Learning Minister Dr Stephen Farry has announced a series of four major Jobs Fairs and Advice Forums.
10 November 2015
Call For Employers To Stop 'Creaming Off' Restaurant Workers Tips
Restaurant workers need 'decisive government action' to stop employers creaming off their tips, Unite the union has said in response to the government's investigation into abuse of tipping.
Call For Employers To Stop 'Creaming Off' Restaurant Workers Tips
Restaurant workers need 'decisive government action' to stop employers creaming off their tips, Unite the union has said in response to the government's investigation into abuse of tipping.
09 May 2014
Online Jobs Fair Aims To Boost ICT Sector
An online jobs fair is hoped to create some 200 jobs in the information and communications technology (ICT) sector in Ireland. Organised by EURES Ireland, the online fair will allow people to apply for and be interviewed for jobs via the web.
Online Jobs Fair Aims To Boost ICT Sector
An online jobs fair is hoped to create some 200 jobs in the information and communications technology (ICT) sector in Ireland. Organised by EURES Ireland, the online fair will allow people to apply for and be interviewed for jobs via the web.
15 January 2008
Service Sector Jobs Fair For Waterfront
The local service industry sector is to get a boost next month with a planned jobs fair. Jobseekers will come face to face with some of Northern Ireland's biggest service industry employers at the Waterfront Hall, Belfast.
Service Sector Jobs Fair For Waterfront
The local service industry sector is to get a boost next month with a planned jobs fair. Jobseekers will come face to face with some of Northern Ireland's biggest service industry employers at the Waterfront Hall, Belfast.
22 February 2018
National Jobs Week 2018 Announced
More than 15,000 people are expected to attend over 100 events during National Jobs Week 2018. The Minister for Employment Affairs & Social Protection, Regina Doherty, T.D. launched the initiative, which will have a particular focus on the catering sector this year.
National Jobs Week 2018 Announced
More than 15,000 people are expected to attend over 100 events during National Jobs Week 2018. The Minister for Employment Affairs & Social Protection, Regina Doherty, T.D. launched the initiative, which will have a particular focus on the catering sector this year.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
