Reacting to comments made in the Spending Review about employment, Stephen Barter, director in KPMG Management Consulting, says:
"The critical factor for employment is the geographic distribution of the cuts - specifically, how far the public sector job losses are concentrated in towns where private sector employment is struggling.
"Clearly private sector job growth is accelerating and this is reflected in our recent monthly jobs market survey results.
“One clear trend emerging in the employment data is the upward shift in the age of the working population. As the workforce ages, it is essential that young people entering the job market have the skills and education employers need. So the new University Technical Colleges – co-sponsored by universities and companies - need to be prioritised in those areas which have been hardest hit by the public sector job cuts. Equally, for workers of all ages, we would like to see education investment channelled into training and re-training, focused on those communities with the most urgent skills shortages, to accelerate new job creation.
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 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.