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"The U.K. jobs market will be weaker than at any time since the recession of the early 1990s"
- John Philpott, chief economic adviser at the CIPD
The U.K. job market faces "slow, painful contraction", said the Chartered Institute of Personnel and Development in a report, adding the number of employed people is likely to decrease by 120,000 in 2012.
"The U.K. jobs market will be weaker than at any time since the recession of the early 1990s," John Philpott, chief economic adviser at the CIPD, an association for human-resource professionals, said in a statement.
"The combination of worsening job shortages for people without work, mounting job insecurity and a further fall in real earnings for those in work may test the resilience and resolve of the U.K. workforce far more than it did in the recession of 2008-9."