UK jobs market looks ugly

Austerity somehow sounds attractive to some at the beginning, but unfortunately this is most often the end result. If there were examples of austerity working, you know they would all be talking about it but even the pro-austerity crowd struggles to find a good example, so they don’t. The Guardian:

The jobs market is facing a “slow, painful contraction”, with firms scaling back decisions on whether to recruit more staff against a background of global economic “turmoil”, a report has warned.

The Chartered Institute of Personnel and Development (CIPD) predicted that the employment situation would get worse for the rest of the year – while it says medium-term prospects are no better.

It said the private sector would grow at a slower pace in the next three months. The number of firms planning to relocate jobs abroad and recruit overseas workers had also fallen, it added.

The quarterly survey of 1,000 employers also found confidence in the public sector remained low for the next three months and would get worse next year.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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