The latest Labour Market Outlook from the Chartered Institute of Personnel and Development’s (CIPD) and KPMG indicates that private sector employment will continue to rise during 2011, which can only be good news for contractors.
According to the report, the private sector will continue to generate new jobs in the first quarter of 2011, with growth evenly spread across the private sector. Manufacturing and private sector services will provide the majority of new jobs, which is consistent with the Bank of England’s Agents’ Summary of Business Conditions January 2011 report. This reported that ‘employment intentions in both manufacturing and services pointed to a modest pace of job creation in the private sector in the next six months’. The overall employment outlook in the private sector compares favourably with the survey conducted in Winter 2010. Commenting on the predictions, Public Policy Adviser at the CIPD Gerwyn Davies said, “Encouragingly, the private sector continues to generate new jobs.”
The quarterly CIPD/KPMG Labour Market Outlook aims to offer an early indication of future changes to the labour market around recruitment, redundancy, migration and pay intentions. The survey is based on 759 HR professionals, who are mainly drawn from the CIPD’s membership of more than 135,000 HR professionals.
Last week, the Recruitment and Employment Confederation reported an increase in staffing demand in both the temporary and permanent jobs markets during January 2011.