UK job losses declining

The rate of decline in the UK job market is slowing, according to research conduced by the Chartered Institute of Personnel and Development (CIPD).

In the second quarter of this year the balance of firms cutting jobs over those recruiting in the private sector shrunk from the previous three months' figure of -30% to -2%. This means that recruitment has almost caught up with job losses in the UK private sector.

"When it comes to the immediate jobs outlook, the best that can be said is that things are getting worse more slowly," said Mr Philpott, chief economist at the CIPD.

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