Contractors will no doubt be pleased to learn that the job market is improving and there has been an increase in the number of vacancies being advertised.
A spokeswoman for Jobsite confirmed there has been a rise in vacancies for many roles and in many industries. She made the comment after the CIPD revealed that 25% of public sector employees think they are going to lose their jobs. She went on to say that whilst there is ongoing concern over public sector redundancies, the increased opportunities available will help cushion the blow and things are no longer as bad as they could be.
She also advised people who are considering switching to the private sector to ensure their skills are transferable.
The Reed Job Index for November confirmed the increase in vacancies by recording a rise of four points on the previous month. The MD of Reed.co.uk said the index has now risen by 11% since its inception. We are now seeing accelerated demand from the private sector, from financial services through to scientific areas, he added.
Meanwhile, George Osborne has said the UK economy is set to grow by nearly 2% per year over the next five years. Reassuringly, the OBR has painted a similar picture for employment. It expects the unemployment rate to be 7.9% this year, falling to 6% by the end of this parliament.
The OBR also announced that it expects public sector job losses over the next four years to be 330,000 instead of the 490,000 it estimated in June. However, Dean Shoesmith, the president of the PPMA, had said this prediction is speculative. Based on data from the Department for Business, Innovation and Skills, he knows that around 140,000 local government jobs are to go and he expects overall public sector redundancies to total half a million.
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