The outlook found that;
- The Net Employment Index fell to -3 from +11 in the previous three months (the index measures the difference between the proportion of employers intending to increase and decrease total staffing levels)
- The Manufacturing Sector (+20) and Private Sector Services (+20) were the most likely to create jobs
- The vast majority of Public Sector Organisations (-66) look set to reduce the size of their workforce in the first quarter of 2011
- 33% of employers said they intend to employ fewer people in 2011 as a result of the Comprehensive Spending Review
The Public Policy Advisor at the Chartered Institute of Personnel and Development, Gerwyn Davies, said that “The first quarter of 2011 was always going to be a quarter of reckoning for the jobs market, and it seems that last year’s modest recovery will be reversed by a modest relapse this year. Encouragingly, the private sector continues to generate new jobs, but we are some way off the jobs boom that we are all hoping for.”
Malcolm Edge, the Head of Markets at KPMG, went on to say that “the Private sector recovery is not yet fully established and therefore remains susceptible to shocks. Government stimulus with the banks to increase business could provide much needed finance for growth. Medium-sized enterprises are the lifeblood of the UK economy and this could be a very beneficial boost for them.”
According to a leading IT Recruitment Firm the Banking Sector is behind the recent surge in demand for highly skilled IT Professionals. Contractors in particular stand to profit with many Banks unable to hire permanent workers due to a lack of skills in the permanent market. Recently the Monster Employment Index reported that the Information Technology sector saw opportunities surge with annual growth of 34% reported. The news marks a very positive start to 2011 for many highly skilled IT professionals. At the end of 2010 and in the early part of 2011 doom and gloom seemed to be re-emerging with many concerned about the VAT increase from 17.5% to 20% and public sector job losses. However the performance of the banking sector is helping to dispel those fears.
At Commonwealth Contractors we partner with OISC Registered Private Immigration Firms and Tier 2 Licensed Healthcare and IT Consultancies who may be prepared, where required, to sponsor an individual on a Tier 2 Visa (formerly UK Work Permit). If you are a highly skilled International professional and you would like to work in the UK Commonwealth Contractors can help. Our OISC Registered Partners specialise in Tier 1 General (formerly Highly Skilled Migrant Programme) visa applications and can assist those highly skilled individuals that either wish to apply or extend a Tier 1 General Visa.
For more Information call Commonwealth Contractors now on 0330 390 9021 or Submit your Details and we will get right back to you. Please see other areas of the Commonwealth Contractors site for interesting articles on tax, immigration and contracting.