Pound climbs on CIPD employment predictions

<p>Sterling has made gains on positive CIPD employment data.</p>

The pound has made gains in forex trading this morning (December 28th) following a report suggesting employment in the UK is set to peak in two years.

According to the Chartered Institute of Personnel and Development (CIPD), the number of people in work is set to increase to a record high of 30 million by 2015.

The CIPD stated the reason for this increase during a period of weak economic growth is difficult to explain.

Unemployment has been falling for most of this year and slipped by 82,000 in the three months to October to reach 2.5 million and over the same period there was a rise of 40,000 people in work, which took the headline figure to 29.6 million – the highest number of people earning a wage since records began in 1971.

At 11:50 GMT, the pound rose by 0.1 per cent versus the dollar to £1 buying $1.611, while it appreciated by 0.5 per cent against the euro to €1.223.

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