Unemployment 'to be lower than expected'

31/12/2009 Unemployment 'to be lower than expected'

People seeking work in the accountancy sector, including those looking for audit jobs, may be buoyed by predictions that unemployment will not reach the highs originally predicted.

According to Phil Flaxton, chief executive of Work Wise UK, the jobless count is likely to peak at 2.8 million next year.

One factor limiting the rise is that more people from white collar backgrounds who lose their jobs are setting up their own businesses, he suggested.

Mr Flaxton remarked: "One has to remember that ... unemployment has been very low over the last decade and 2.8 million is not as high a figure as [we have seen] over the last decade."

However, he added that the first quarter of 2010 may see a jump in job cuts as employers often wait until after the festive period before laying staff off.

His comments follow the release of figures published by the Office for National Statistics, which showed that the unemployment rate for August to October 2009 was 7.9 per cent.

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