A recent CIPD press release stated that: “The jobs market continues to shine as we approach the New Year. Increased vacancies, fewer redundancies, and a modest reduction in the unemployment rate offer further signs that the labour market is heading in the right direction.
However, how long this good news will continue remains uncertain. The CIPD’s own surveys indicate that demand for labour may soften in the medium-term, with fewer than one in five employers expecting to increase their head count by more than two per cent, even if they see stable economic growth of two per cent or more.”
Other key findings from the CIPD’s surveys were:
- The unemployment rate for 16 to 24 year olds not in full-time education is 19.0%, down 0.7 percentage points from April to June 2013.
- For the private sector, total and regular pay rose by 1.1%.
- For the public sector, total pay fell by 0.4%, while regular pay fell by 0.1%.
The CIPD is the Chartered Institute of Personnel and Development and is the professional body for HR and people development. More detailed information from the survey is available from the CIPD/SuccessFactors Labour Market Outlook report.