Reacting to the publication, today, of the latest UK employment figures, which have seen unemployment levels fall by 125,000 to 2.34 million, Stephen Barter, a director in KPMG Management Consulting, says:
“There’s certainly cause for optimism with the latest employment figures. In the past few days we’ve seen inflation drop to its lowest level for four years, car sales rising and an increase in the number of people booking holidays. It all combines to suggest employees might be becoming more comfortable about job security and the latest figures seem to give credence to peoples’ renewed sense of confidence. Britain’s construction sector is also recovering, buoyed in part by a rise in demand for houses. Add this to the increased demand for skilled IT workers and it’s easy to suggest that we will continue to see an upward curve in employment continuing for some time to come.
“The question remains, though, around whether employers are able to find staff with the skills to match demand. For some time there have been concerns that skills shortages could derail recovery. Current levels of momentum give hope that the recovery will build, yet there are paradoxes. It seems clear that cautious employers - and possibly employees - are preferring to take temporary roles ahead of going firm on permanent posts. As in the US, some workers are choosing to exit the jobs market altogether. Yet business investment is finally starting to tick upwards. Both business and consumer confidence has to be nurtured."
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 approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 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. Each KPMG firm is a legally distinct and separate entity and describes itself as such.