By Max Clarke
Wendesday will see the publication of the latest employment figures, with many commentators expecting a rise in joblessness that will reverse the surprise drop in unemployment seen last quarter.
With investors around the world lacking confidence, as the Eurozone teeters on the brink of collapse, whilst markets remain insecure in the wake of the US’ downgrading from its AAA rating, economists expect the rate of unemployment to climb.
The grim prognosis is echoed by a number of influential reports out today, which includes the study from the Chartered Institute of Personnel and Development/KPMG. The Labour Market Outlook which surveys 1,000 employers shows a fall on intended staff increase of -1, compared to +3 in the last quarter. Long term prospects are also disappointing with a fall in the twelve month index from +2 in the last quarter to -6 in this.
Youth unemployment in particular, currently edging past the 20% mark and threatening once more to pass the symbolic 1 million mark, is expected to increase. Last quarter’s unemployment saw a surprise drop in joblessness, though commentators are not so optimistic about Wednesday’s news.
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