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Jobs report shows private sector recovery, but concerns over public sector cuts
Posted Aug 9, 2010
The latest REC Report on Jobs shows that both permanent and contract job appointments increased in July, however the rates of growth have slowed a little.
The monthly report, published by the REC and KPMG shows that the demand for staff across the country rose at a slower rate during July, and the number of new job vacancies have also weakened. Positively, growth is fastest in the Engineering and Construction sectors.
Although the rate of growth in permanent salaries is at its highest level in 2 1/2 years, contract/temp rates eased to the slowest pace in 4 months.
The most likely reason for the slowing growth is likely to be the impending cuts in public sector jobs (both permanent and contract), as the growth in demand for engineering and construction workers is a positive sign that the private sector is undergoing a sustained recovery.
Kevin Green, the REC's Chief Executive, commented:
"With 600,000 job cuts forecast in the public sector over the next year, the Government must do everything possible to boost job creation in private sector - in particular by reducing business taxation and regulation. At the same time, public bodies must avoid knee-jerk cuts to staffing levels which not only threaten the recovery of the UK jobs market but also undermine the delivery of key services."
Bernard Brown, Partner and Head of Business Services at KPMG commented:
"The UK job market continued to slow down in July with overall demand for staff rising at the slowest pace in eight months. Surprisingly, engineering & construction is the sector where staff was most in demand, an indication of a sustained recovery in the manufacturing sector. However, the sharp decline in the demand for healthcare professionals comes as a direct result of government cutbacks and cost reduction in the NHS, and is a sign of things to come as the public sector prepares for more spending cuts which are likely to impact the jobs market further."
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