UK ‘escapes lightly’ on job cuts despite big fall in GDP

The UK has escaped relatively lightly in terms of unemployment in the recession, even though it recorded a bigger fall in GDP than most major countries, delegates at the CIPD annual conference heard. Up to 50 million jobs have been lost globally since 2007 in “the mother of all crises” for the global economy, said Suzanne Rosselet-McCauley, deputy director of the World Competitiveness Centre at the IMD business school.