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Jobs woe adds to index of economic misery, say CIPD

Jobs woe adds to index of economic misery, say CIPD
 
Dr John Philpott, Chief Economic Adviser at the Chartered Institute of Personnel and Development (CIPD) comments as follows on official labour market statistics for the September-November 2010 quarter published earlier today by the Office for National Statistics (ONS):
 
The latest jobs market figures are disappointing albeit that the underlying trend in employment and unemployment toward the end of 2010 suggests a modest rather than drastic deterioration in market conditions. Nonetheless, it is clear that the combination of a jobs market in the doldrums, slow pay growth and sharply rising price inflation was already driving up the UKs misery index well before the impact of this years cut in public spending and the hike in VAT and other taxes start to be felt.
 
Women account for more than three-quarters of the fall in employment in the latest set of jobs figures, with most of this showing up in a rise in the number of women who are economically inactive rather than unemployed.  The number of workless women in the UK those economically inactive who say they want a job plus those unemployed and actively seeking work now stands at 2.36 million. This remains below the equivalent figure for men of almost 2.5 million but the gap is set to narrow with cuts in public sector employment likely to fall far more heavily on women than men. A large quarterly fall of 59,000 in the number of women employees in part-time employment is a clear sign that a female jobs recession is already underway.    

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