Finance sector confidence gives UK jobs market healthy outlook

Employers
in the financial services sector plan to recruit more people in the third
quarter of 2004 than at any time since 1998.

This
has helped UK job prospects achieve a ‘Net Employment Outlook’ of +14 per cent
on the latest Manpower Employment Outlook Survey.

Hazel
Detsiny, marketing and training director at Manpower, said: "There’s
widespread confidence across UK business sectors. The news from the finance and
business services sector – based primarily in London and the South East – is
encouraging.

"We
believe some of this intention to hire is influenced by a perceived need to
employ additional staff to cope with stricter controls and legislation within
the industry. However, there is also increased economic confidence and business
growth," Detsiny said.

At
the same time, employers are still reporting that it is hard to find staff with
the right qualifications. Other Manpower research indicates that 21 per cent of
UK employers face skills shortages.

Detsiny
believes the recent enlargement of the European Union could provide a wider
labour pool for UK employers, which could contribute towards tackling the
skills gap:

"Contrary
to much speculation, the recent expansion of the EU hasn’t yet resulted in a
flood of migrant labour. However, there is an opportunity for employers to tap
into new pools of labour from new member states," she said.

"Our
research also shows that one in five employers would consider employing someone
from the accession states to help fill this need. In the short-term, however,
lack of skills in many sectors is likely to persist."

By Quentin Reade

Comments are closed.