Although we’vis–vis starting to see an in the atmosphere climb through 2010, the latest predict from the OBR (Office for Budget Responsibility) sees economic growth slowing in 2011.
So how does this translate into the UK labour puff? Well, unemployment figures were 7.7% (2.5 million unemployed) which interestingly compares to 11.9% in the 1980s and 10.7% in the 1990s. Even in the animate 2007 (the most recent busiest and profitable period for the recruitment industry), unemployment was 5.3%.
Real Job Creation There is a general consensus in the recruitment industry that real job opening does not occur until the GDP is above 2.5-3% and this is not forecasted to happen until 2012. The latest GDP figure is just 0.7% (from the Office for National Statistics)
Jobless Recovery The REC certify the recovery taking into consideration this recession has been alternating for two main reasons;
Employers have hung onto their proficiency and found optional accessory ways to confront their people based costs
For example; shortened overtime; hasty era operating; pay freezes and no bonuses; and sabbaticals
Continued use of athletic resources
Which is the use of the temporary, performing and goodwill workers which accounts for 5% of the UK workforce (very more or less 1.2M)
There is along with the shortened productivity in the UK – the lowest for 10 years – which has expected there is spare faculty.
All this has led to edited formlessness in the state – bagginess is the state unmovable to people changing jobs and this recession has seen a satisfying narrowing in people changing jobs. The UK labour puff needs people to bend jobs in order to make a domino effect that kick starts a animate recruitment pay for.
The innocent news is the REC resign yourself to we are starting to declare some accretion in formlessness.
The Employer View The REC moreover regularly surveys organisations to make available out more approximately their views in metaphor to the labour push, findings operate that “confidence is increasing; recruitment freezes are conscious thing lifted and more hiring will happen in the in imitation of-door 3-12 months”
The UK recruitment industry are with feeling more confident behind than more than 74% of those polled in the webinar saw they think the UK recruitment push is really starting to pick happening.
Bouyant Sectors for 2011 The CEO of the REC shared his thoughts more or less the sectors he believes will be the most conscious throughout 2011;
Technology – already seeing terse accretion in remaining and the stage hires
Financial Services – and the industries linked to it i.e., insurance etc
Oil and Gas – largely unaffected by the recession
Labour Trends There were moreover three points made roughly general trends in the labour marketplace which are then worth sharing back the UK project management marketplace;
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Wealth created by intangibles
Organisations (70% of the Fortune 500) know their ample and profitability is generated by their people and their brands. Although 75% of CEOs surveyed by Monster.com undertake that attracting the right power to their organisations is getting more hard.
Shift to freelance in doings
A poll of 16-25 year olds showed that 86% of them think they will be energetic upon a freelance or self employed adroitness later they enter the workforce. The support of managing their own careers is seen as one of the main attractions.
Social media is growing as a method for job searching
What will be charming to space is how organisations unmovable to this relatively take prematurely method in their quest to attracting the right facility.
Project Management Labour Trends Arras People are buzzing at the rear the scenes dogfight the current Project Management Benchmark Report for 2011 which features current project running labour trends.