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Thursday 6 December 2012

CIPD stresses importance of labour market to UK's recovery

The Chartered Institute of Personnel and Development (CIPD) has issued its response to George Osborne's Autumn Statement.

Yesterday (November 5th), the half-yearly policy speech was given to MPs and Peter Cheese, chief executive of the CIPD, said that the announcement confirms that the UK's economic recovery hinges on the country's flexible labour market.

He explained that the efforts of businesses to improve employee engagement, innovation and productivity are crucial – especially against a backdrop of prolonged fiscal consolidation.

Tough economic conditions look set to remain for the immediate future so firms must be innovative with their employment strategies and people managing skills, Mr Cheese concluded.

Mark Beatson, the group's chief economist, said that it will be important to continue delivering jobs growth and youth unemployment needs to fall.

"Indeed, 2012 will end with higher employment and lower unemployment than forecast in March, even though the economy has not grown at all over the year," he stated.

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Source: The Sales Director News

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