Jobs in the UK are on the rise, with the private sector showing confidence in hiring more employees. However, the public sector is not joining the party, but rather showing restraint.
Also, the private sector companies that are dependent on the public sector are affected by the cost-cutting measures in the government sector, according to a KPMG report.
In many areas of the private sector, employers feel confident to hire again on a full time basis, though the picture is very different in the public sector where hiring freezes and cost cutting seems to be the order of the day, says Bernard Brown, partner and head of business services of the accounting firm, in a report in the UK’s Telegraph.
“Indeed, private sector businesses with a dependency on the public sector are clearly on a knife edge, as they wait to understand how the unfolding government policy will impact them.”
The slight improvement in Britain’s job market in the private sector is not likely to improve the overall jobs market in the UK.
“The fundamental issue is whether the private sector can create enough jobs to offset the expected job losses in the public sector.”
However, certain sectors like banking and finance are less upbeat about the job opportunities in the UK. Less than one in four investment professionals surveyed by the CFA Society of the UK said that the UK would be a “more attractive” place in the next year for employment opportunities, The Guardian reported.
As many as four out of 10 banking professionals surveyed think that opportunities would be “less attractive” in a year’s time.