STUDENT LIFE / JUN. 18, 2014
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Which Sectors of the UK's Recovering Labor Market Offers the Most Jobs?

So it looks like the tide has finally turned; employment in the UK is recovering convincingly and the employment outlook hasn’t been stronger in nearly seven years. So what can you expect when you’re fresh out of college, looking for your first job?

According to an article in the Financial Times, virtually all economic sectors with the exception of construction, will start hiring significant numbers of people, but finance and business services will trump the lot, followed by the retail sector.  

And a recent survey of 2,100 employers in the UK shows buoyancy in the retail sector all over the UK except in Northern Ireland.

The survey, conducted by ManpowerGroup, indicates that company and government institutions in 11 out of 12 regions are preparing plans to hire more staff over the next three months.

Scotland is experiencing an especially significant jump in employment - which might be attributable to the Commonwealth Games that are held this summer in Glasgow.

Companies on a hiring spree

A good example of a company in the financial services sector which is on a massive recruitment spree is the insurance company Towergate in Manchester, which is creating 400 jobs in a new contact centre, based in its dossy Spinningfields offices. Great opportunities for fresh graduates here.

Companies in the retail sector that will be recruiting right now are especially those that stand to gain from the World Cup. Think football, and your mind will gravitate toward pizza, snacks, celebratory drinks, crisps and such. Reuters reports Domino’s Pizza intends to recruit 1,300 delivery staff during the crazy weeks of the World Cup. The company expects to bake and deliver 6 million extra pizzas.  

On a more general note, the supermarket chain Aldi said it is planning on hiring 5,000 extra staff by the end of the year in line with its expansion strategy. Same kind of drive is ongoing at Wm Morrison, albeit on a smaller scale. The supermarket plans to recruit a few hundred employees for its stores and for its online shop. And then there is Dixons and Carphone Warehouse, which both will create 1,600 jobs each. 

According to ManpowerGroup, the public sector’s hiring spree will follow that of the private sector in the next three months, even though it will lag slightly.

New public sector jobs

In the public sector, it is primarily local authorities and the National Health Service which are recruiting staff; more specifically, recruiting candidates that can implement positive alterations in the public service.

Self-employment

According to ManpowerGroup’s UK managing director, Mark Cahill, self employed contractors also face rosy prospects.

“While job prospects have been strong, it’s only now that we’re seeing a return to pre-recession hiring plans,” he said. “What’s more, we’re seeing broad-based growth across permanent roles, the self-employed and contractors”.

Wages are lagging

In essence, the fresh employment chances that are emerging all around, are mostly good news for the unemployed and the job starters among us, because wage developments are not nearly half as exciting as all the new job opportunities. Economists polled by Reuters expect that wages have actually decreased 1.2 percent in the period between February and April, which means that earnings do not match inflation, which stood at 1.8 percent last April. So if you are in a reasonably stable job, the chance that you will be making more money by merely changing employers is somewhat limited.

Are you fresh out of college? Do you notice the buoyancy on the labor market?

 

Image credit: cc Lars Plougmann

 

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