Reacting to the publication, today, of the latest UK employment figures, which have seen unemployment levels fall by 37,000, Bernard Brown, Partner and Head of Business Services at KPMG, says:
“Three consecutive months of falling unemployment has got to be a good thing, but with the numbers finding work beginning to shrink, my concern is that the rate of growth is slowing down. It could be that employers are exercising caution as the run up to Christmas was not the smooth ride they had hoped for. Undoubtedly, fears over the long-term prospects for the economy are also playing a part.
“It does seem that 2013 will follow a similar pattern to the previous 12 months, with the jobs market moving at a snail’s pace – albeit one that is quicker than the wider economy. It’s good to see that more of those classified as long-term unemployed are beginning to find work, yet with youth unemployment rising again employers will have to grapple with the need to balance the makeup of their workforce. That, coupled with an urgent need to train and up-skill employees means that investment in capability is essential if UK plc is to keep moving in the right direction.”
Mike Petrook, KPMG Press Office
020 7311 5271 (t), 07917 384 576 (m) or firstname.lastname@example.org
Notes to Editors:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.