This is going to be a difficult 12 months for public sector employees. More than 33% of jobs are likely to be lost in line with government plans to pay back the enormous public debt.
The latest quarterly report from the CIPD shows that although the UK has emerged from the recession, the jobs market is still facing problems. John Philpott, chief economic adviser for the CIPD believes that the recent resilience in the market has been caused by the easing of redundancies in the private sector but warns that the public sector has yet to feel the full force of the government's proposed spending cuts.
31% of public sector organisations are now planning redundancies as opposed to just 13% in the last quarter of 2009.
The CIPD also warns that the private sector will have its own share of problems to deal with in the shape of ongoing concerns about productivity, employment costs and inflation. There's also a danger that more firms could move jobs abroad to cut costs.
However it's not all doom and gloom in the private sector as 5% more businesses said they are planning to increase their workforce in the first quarter of 2010.
Since the recession began, unemployment in the UK has risen by more than a million and now stands at 7.8%. There's also a feeling that the pound may come under further pressure this year and investors and businesses could be encouraged to develop a forex hedging strategy to protect themselves.
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