EconomyEurope

UK workers face year of slog in 2013: Report

saberimoghaddam20121229160152290British workers are to expect longer hours, static pay and limited jobs creation in a “hard year of slog” in 2013, a study has warned.

According to a report compiled by the Chartered Institute of Personnel and Development’s former chief economist, John Philpott, New Year will bring longer hours, continued squeeze on pay, fewer new posts and more job insecurity for those working across the UK.

John Philpott, who heads the Jobs Economist consultancy, said job insecurity will remain high, with workers maintaining a “grin and bear it” attitude.

The analysis also predicts that the trend in falling unemployment will come to an end, with the jobless total rising by 120,000 to 2.63 million in 2013, because growth in workforce will exceed the number of jobs being created in Britain.

Moreover, the study forecasts that pay deals will continue to be affected by unemployment, with increases lagging behind the country’s inflation rate, leading to wage cuts for workers.

“Our jobs outlook for 2013 is relatively optimistic in that we expect only a modest rise in unemployment. However, the fact that this can be considered good news merely underlines the harsh reality of current economic austerity,” Philpott said.

“Gross Domestic Product (GDP) may grow somewhat faster but 2013 will be another year of hard slog, with longer hours for those lucky enough to have jobs and a further squeeze on living standards for workers and the jobless alike.”

Earlier this month, a survey by Markit, the financial data provider, found that 43 percent of households in Britain believe their finances will deteriorate in 2013, while just 24 percent think they will see an improvement.

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