Monster Employment Index shows strong IT Job growth in October

The Managing Director at Monster UK and Ireland, Julian Acquari, said that \”While the United Kingdom still has a long way to go towards economic recovery, the increase in employment opportunities is an encouraging trend.\”

The positive news comes at a time when the latest Chartered Institute of Personnel and Development (CIPD)/KPMG quarterly jobs survey has shown that private sector job creation may actually offset large scale public sector job losses in the future. However the Chief Economic Advisor at the CIPD has cautioned we may be witnissing a ‘pre-festive season surge in private sector job creation’ rather than a long term upturn.

The Chief Economic Advisor at the CIPD, Dr John Philpott, said that “Signs of not only sustained but also increasing buoyancy in private sector job prospects is encouraging, especially since some other forward looking economic and labour market indicators have been subdued of late. What remains to be seen is how much of this good news is merely a pre-festive season surge in private sector jobs or evidence of a sustained improvement that will continue to offset large scale public sector job cuts which, as the LMO survey shows, are already well underway and on a scale in line with the CIPD’s current forecast for total public sector job losses by 2015-16. With employers clearly far more cautious about the 12 month than the 3 month jobs outlook it is far too soon to conclude that the UK will avoid a rise in unemployment in 2011.”

Recently the Office of Budget Responsibility (OBR) also revised its prediction that 490,000 jobs will be lost in the Public Sector. Earlier in the year the organisation said that 490,000 jobs would be lost, however now the best prediction is 160,000 less, at 330,000. Although the predicted job losses are still severe the revised prediction represents a positive move for the UK economy.

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