"These results suggest we should see further jobs growth over the summer and autumn and hopefully reflect a degree of optimism about growth prospects for 2013. This is welcome news for job seekers."
- Mark Beatson, the CIPD's chief economist
A new survey conducted by Chartered Institute of Personnel and Development, which is Britain's leading professional body for people development and HR, showed that the labour market in the country is likely to record its largest growth since the 2008 recession, although cuts in the public sector can weigh on the further job creation. A survey of more than 1,000 managers across the nation showed that the net employment balance, a difference between the proportion of employers, who expect to increase hiring, offset the proportion of people, who intend to make staff reductions, reached +14 in the third quarter, 5 points higher from the previous quarter's reading and the highest since in five years.
In addition to that, private sector employers remained strongly positive about the employment intentions during the third quarter, as a gauge of net employment jumped from +21 to +26 in the third. In contrast, employers in the public sector are expected to bear the brunt of overall job cuts, as net employment balance in this sector improved just slightly. The research also showed that no wage growth is expected, with predictions of average rises of just 1.7%. Nevertheless, the stable improvement in the labour market is adding to signs the economy is on the path to recovery.
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