Job growth to soar before general election
Nearly half a million new jobs could be created around the UK between now and next year’s general election, grant-thornton.co.uk reports.
According to new research conducted by Grant Thornton and the Institute of Chartered Accountants in England and Wales (ICAEW), well over 450,000 jobs could be created by May 2015, thanks to huge increases in business confidence across the UK. For jobseekers, this equates to a 2.2 per cent increase in prospects over the coming 12 months.
It was claimed that confidence levels would reach their highest levels since 2003, as the economy reaches a pre-crisis peak with a 1.2 per cent increase in Q2 2014. This forecast could even be slightly on the conservative side, as an additional study undertaken by the Confederation of British industry (CBI) claimed optimism was actually at its highest rate since 1988.
Despite all this good news, analysts suggested that an ever-growing jobs market could end up causing widespread skills shortages as the number of qualified individuals who are out of work plummets.
Commenting, ICAEW chief executive, Michael Izza, told ft.com: “Business expectations continue to improve across all regions, but issues are still there.
“The skills gap is widening and exports are not rising fast enough which could further exacerbate the UK balance of payments deficit.”