Financial conditions for UK households will worsen, says CEBR

16/02/2012
The recent unemployment figures from the Office of National Statistics show little change in the UK job market, but the centre for Economic and Business Research (CEBR) is pessimistic.

Unemployment remained steady at 8.4 per cent, however, the CEBR predicts that hiring conditions will worsen across the board, particularly in the private sector.

This could leave many cash-strapped households in need of debt help.

It is also expected that the next 12 months will see a shift in the pressures facing UK families.

While budget squeezes may ease, thanks to falling inflation, Britons will instead have to cope with a rise in redundancies.

The CEBR expects that the unemployment rate could hit nine per cent by the end of the year.

A report by the Chartered Institute of Personnel and Development also warned of a jobs crisis.

Nearly a third of the firms who were surveyed (31 per cent) stated that they were planning to cut jobs within the first quarter of 2012.

Posted by Kim Burns

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