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The latest Labour Market Outlook survey which is conducted by KPMG and the Chartered Institute of Personnel and Development, has revealed that an increased number of employers will be making redundancies during the remainder of 2011. Although companies are still recruiting, the number of new employees has drastically reduced since the start of 2011.

From 2004, when the survey was first conducted, the number of redundancies being planned are at their highest level. According to the statistics, 56 percent of employers in the public sector are considering redundancies as an option, with 30 percent of private sector companies also planning to make redundancies. The high level of planned redundancies will lead to people across all industry sectors losing a significant number of jobs.

The manager of the largest online outsourcing marketplace in the world,, has made a number of comments on the news. Saif Bonar said:

“Though on the surface, the outlook remains bleak, this should actually be seen as incentive for more people to look at alternative employment options- and the opportunity to take greater control of their own destiny.”

Bonar specifically mentions people who want to start their own business, but lack confidence and necessary funding. He also mentions people with high skill levels who are unemployed. These people offer flexible and affordable alternatives for employers who are looking for expertise. As a number of business processes are being digitalised, more employers are seeking freelancers for duties like book keeping and graphic design, advantageous for businesses in the economic downturn.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

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