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'2.85m will have no job next year'
Wednesday December 28th 2011
The haemorrhaging of jobs in the public sector will see 2.85 million people officially unemployed in 2012 as 120,000 more employees will be put out of work, according to a report.
Joblessness numbers will reach a level not seen since 1994 and will peak at 2.9 million during the first six months of 2013, the Chartered Institute of Personnel and Development predicts.
Around a million people will have been out of a job for longer than a year and a million youths will still be without work, the institute report says.
Ordinary workers will continue to have their wages frozen while inflation continues to rise.
Productivity will also "pause", the report adds.
The institute pointed out that if unemployment reaches the level it is predicting, 2012 will be the first time rising joblessness figures have reached 2.85 million since 1991.
Poor economic performance by UK firms will ensure unemployment will remain above the 2.5 million mark until well into the decade, the institute insists.
Copyright © Press Association 2011
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