UK employment prospects are expected to drop in the second quarter, according to a survey.
The Manpower Quarterly Survey of Employment Prospects, shows that a net balance of 11 per cent of UK employers will be taking on staff in the period April-June 2003. This is the lowest second-quarter result in four years and is the only time in a decade that the net balance has fallen from the first to the second quarter.
The Manpower survey asked 2,000 UK companies, across 11 regions and 21 industry sectors, if they expect an increase, decrease or no change in their staffing levels for the quarter ahead. A 'net balance' of job gains is calculated by subtracting the employers planning to decrease staffing levels from the number of employers planning to take on staff.
Manufacturing has reported a net balance of 4 per cent, well below the national average of 11 per cent. This is the lowest second-quarter result in four years, and the second successive quarter-on-quarter fall, suggesting the recent rally in prospects for manufacturing may be over.
Despite being above the national average with a net balance of 14 per cent, services is down slightly on the last quarter.
The finance sector isn't looking good. Job losses are predicted for the first time in seven years (8 per cent net balance, a 10-year low).
High street retailers have reported their lowest Q2 result since 1993, with a net 7 per cent anticipating taking on more staff in the second quarter.
The hotels & restaurants sector has also reported its lowest second-quarter balance since 1992, as global instability impacts on tourism.
The public sector continues to report significant increases in staff, with a net balance of 17 per cent this quarter, well above the national average. Health and education are key to positive public sector job prospects, with net job gains of 24 per cent and 16 per cent respectively.
Hazel Detsiny from Manpower said: "Employment prospects in the public sector are extremely strong. Despite a slowing of job prospects, it is important to remember that the UK still suffers from skills shortages and the private sector will need to continue to compete for talent with the public s