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Employment market showing signs of recovery

The UK employment market is showing signs of recovery according to a report from The Recruitment and Employment Confederation and KPMG. The hourly rate of pay for temporary and contract staff has increased at its fastest rate for two years amid signs that the private sector at least is starting to move in the right direction. While this is obviously a positive sign for the UK as a whole there are concerns about the public sector where significant job cuts are expected in the short to medium term.

In many ways we are operating in a two tier employment market with the private sector coming out of recession and the public sector only now entering recession. Despite what the political parties would have you believe, there will be massive cuts in public sector spending in the short to medium term with some forecasting up to 700,000 job losses in the UK public sector. This will cause a significant drag on the UK economy and increase pressure on the benefits system.

While some experts are forecasting UK unemployment to move over 3 million in the medium term nobody is quite sure about the pace of recovery in the private sector and whether this doomsday scenario will materialise.

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