britain\s employment expected to hit record
Last Updated : GMT 18:08:33
Arab Today, arab today
Arab Today, arab today

Britain\'s employment expected to hit record

Arab Today, arab today

Arab Today, arab today Britain\'s employment expected to hit record

London - XINHUA

British employment is expected to grow accompanied by flat economy with the number of employed people reaching a record high of 30 million by 2015, according to a research issued by the Chartered Institute of Personnel and Development (CIPD) on Friday. The CIPD said in its annual \"Barometer\" report on the labor market that Britain is expected to see a \"historic milestone\" of 30 million in employment before the next election which falls in 2015. The latest official figures showed the unemployment rate in Britain stood at 7.8 percent in the three months to October, with the number of people out of work falling by 82,000 between August and October, to 2.51 million. There were 29.6 million people in employment in Britain in the August-October period, risings 40,000 over the previous three months, which was the highest figure since records began in 1971, said the Office for National Statistics. A report earlier this month from the independent Office for Budget Responsibility predicted that the number of people in work would be unchanged between the last quarter of this year and that of next year. The CIPD described the 2012 employment situation in Britain as \"jobs enigma\", saying that the unpredictability of 2012 makes predictions for 2013 all the more difficult. However, the report still held that on balance continued growth in employment is likely, although excess workforce capacity built up in firms, as employers have actively sought to hang on to talent and skills they would need to compete in the future. Mark Beatson, chief economist at the CIPD, said: \"the jobs enigma, of strong growth in private sector employment in the absence of sustained economic growth, has been one of the most mystifying economic features of 2012.\" \"And if 2012 proved an enigma, the labor market appears equally difficult to pin down for 2013.\" Official data show that the growth in the number of people employed has been accompanied by an increase of 2.6 percent in the total number of hours worked, and the average number of hours worked by both full-time and part-time workers has also increased. Beatson said: \"While there are undoubtedly significant numbers of people working fewer hours than they would like, and this is an issue that merits further investigation and consideration by policy makers and employers alike, the numbers have not increased significantly this year, making it a poor explanation on its own for the 2012 jobs enigma.\" \"Whatever happens, it seems certain that the squeeze on employees\' living standards caused by average earnings going up by less than prices will continue into a fourth consecutive year,\" Beatson said. \"Employers are proving adept at maximizing the potential of the UK\'s flexible market, leading us to conclude that the government may be able to celebrate 30 million employed before the next election.\"

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