Private Sector crucial to stabilising the UK job market

Private Sector crucial to stabilising the UK job marketRecruitment Agencies central in reducing unemployment figures

The employment figures released this week by the Office of National Statistics (ONS) there is still reason to be optimistic with the figures showing a continuing improvement in the UK jobs market.

Also a report last month by the accountants PwC predicted that the austerity drive could lead to nearly one million jobs being lost, on top of the 490,000 job losses expected in the public sector. PwC also believe that a further half a million jobs could go in the private sector as firms are affected by the loss of government contracts. As a result the chartered institute of personnel and development (CIPD) has estimated that an extra 1.6 million private sector jobs will be needed by 2015-2016 so stabilise the job market.

This will place a lot of pressure on the private sector, which has the main ability to drive the economic and job recovery. Moving into 2011 the recruitment sector will play an integral role in the helping businesses in the private sector. With the business services sector seeing more than 300,000 jobs lost in the next three years. This is worrying news seeing as this sector, including accounting, IT consultancy, law and property management has been one of the top performing areas in the UK’s economy, creating around one-third of all new jobs.

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