Confidence is unlikely to return to the jobs market for at least three to five years, it has been suggested.
Work Wise UK chief executive, Phil Flaxton, said that a recovery in recruitment is linked to reducing the deficit and how the country’s economy performs in comparison with global competitors.
He suggested that these factors are connected to growth and productivity and indicated that improvements are going to be slow.
Mr Flaxton’s comments follow a recent report by the Chartered Institute of Personnel and Development, which noted that economic performance only needs to be slightly weaker than official predictions for it to have an effect on the jobs market.
However, the expert said it is important to rein in public spending and get the deficit under control as, “apart from that being a very reckless strategy by any elected government, that would definitely fuel high unemployment because it wouldn’t be sustainable”.
By Hayley Edwards