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CIPD revises unemployment forecast

The Chartered Institute of Personnel and Development (CIPD) has revised down its forecast for peak UK unemployment, which could prove to be good news for those thinking of changing IT jobs.

According to the organisation's 2010 forecast, British unemployment will peak at 2.8 million in the summer of 2010, a decline on the 3.2 million it predicted halfway through 2009.

Dr John Philpott, chief economic adviser to the CIPD, said that the forecast is based on the economy recovering in line with current market expectations but said that firms face a tough time in the coming years.

'The benign employment relations of the long noughties boom may have just about survived the worst ravages of the noughties recession but they face a severe test in the coming decade,' the expert continued.

He explained that the private sector will have to keep a tight hold on its wage costs, while public sector organisations will have to cope with decreasing budgets.

Recently, the Scottish Executive revealed that the nation's unemployment rate dropped to 6.9 per cent in the third quarter of the year, a decline of around 2,000 people.

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