Unemployment 'to reach 2.75 million'
Unemployment could reach 2.75 million by November 2010, BDO says
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Monday, 02, Nov 2009 12:50
Unemployment could reach 2.75 million in the UK by this time next year, researchers have predicted.
According to accountants BDO the number will rise from the current jobless total of 2.47 million, partly due to the public sector.
Last Friday the Centre for Cities said graduates could be particularly hit by a fall in the number of public sector jobs, saying up to 290,000 of these jobs could be lost by 2014.
BDO said private sector firms were holding onto their employees, rather than recruiting, meaning public sector employment levels were falling.
Peter Hemington, partner at BDO, said: "Britain's bosses will have difficult decisions to make when the upturn arrives, including continuing to take a close look at their workforces.
"Many companies have done their utmost to hold on to staff, so they are unlikely to be advertising for new recruits even when demand increases.
"Unfortunately there will be no silver bullet for unemployment when recovery does arrive."