New research from The Chartered Institute of Personnel and Development (CIPD) suggests UK employment will grow in the first quarter of the year.
The CIPD’s Labour Market Outlook (LMO) records the net employment balance, taken as the difference between the proportion of employers intending to increase or decrease staff. The balance remains positive for a fourth consecutive quarter at +5.
Gerwyn Davies, labour market adviser at the CIPD, commented on the findings: “Growth in employment looks set to continue in the short-term, despite faltering economic growth. While muted pay growth is playing a part, we also see continued evidence that employers are reluctant to lay-off skilled workers. This is often described in terms of ‘labour hoarding’, which implies an irrational response by employers.
He continued: “The truth is that employers have learnt lessons of the past, where overly quick steps to cut staff led to a loss of talent and damaged the capacity of organisations to recover.”
The positive net employment balance is corroborated by the UK’s official employment figures, which have reported a comparable rise.
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