Skills shortage hampers financial upturn

Employers
in the financial services sector are reporting their highest third-quarter
hiring intentions since 1998, according to new research.

However,
the Manpower Employment Outlook Survey also highlights a shortage of skills in
some sectors, meaning many employers are unable to fill long-term vacancies.

Further
research conducted by Manpower indicates that as many as one in five UK
employers are faced with skills shortages. And contrary to speculation, the
recent expansion of the EU hasn’t yet resulted in a flood of migrant labour.

The
survey measures employer hiring intentions for the quarter ahead, July to
September 2004. It questioned 2,500 UK employers and more than 35,000 employers
in 19 countries and territories around the world.

Manpower’s
director Hazel Detsiny, said: “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 this industry. 

“However,
there is also increased economic confidence and business growth.”

By Michael Millar

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