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Over 1m made redundant in recession

By admin
Created 25/01/2010 - 10:48

The impact of the recession on unemployment is deeper than headline figures suggest, with 1.3m people being made redundant since the downturn commenced, according to data released by the Chartered Institute of Personnel and Development (CIPD).

The CIPD's study also revealed that there were 6.2m fresh claims for jobseeker's allowance between April 2008 and November 2009 - seven-and-a-half times the rise in the unemployment claimant count during the recession. The data also showed that two-thirds of people made redundant were paid 28% less when they managed to find another job.

"Although the scale of job loss in the recession is much less than originally feared, it is evident that the direct experience of redundancy, repeat spells of unemployment and pay penalties has nonetheless been widespread," said John Philpott, the CIPD's economic adviser.


Source URL:
https://www.newbusiness.co.uk/news/over-1m-made-redundant-recession