What better time than the New Year to reflect on the last 12 months and ponder the future? As careers professionals I’m sure many of us found 2014 to be a refreshing change – at last a year where we could talk with confidence to our clients about an improving job market and an increase in opportunities. It appears that 2015 will be a little less certain with the general election approaching and outcomes still very much up in the air, but is it likely to be a year of continued growth and, if so, which sectors will have the biggest impact? I may not have a crystal ball, but I can look into other peoples. So let’s do just that and see what various professionals and organisations are predicting for the job and labour market in 2015:
CBI/Accenture – Employment Trends survey
The survey, covering 323 firms, found that 50% of respondents expect their workforce to grow in 2015. The study also found that graduate job prospects will continue to pick up and that openings for apprenticeships are also increasing, with a balance of +33% of companies looking to recruit more in 2015. However, the report also highlights threats to UK competitiveness caused by a combination of the burden of employment regulation and skills shortage. The International Business Times reports on the full details.
Jobs Economist report – general market overview
This report positively predicts that the UK labour market is poised for its best year since 2007, with growth in private sector jobs expected to outweigh cuts to public sector roles by five to one. It states that workers will be likely to enjoy a ‘sustained increase’ in wages as employers face growing competition to recruit suitably skilled staff. However, it also warns of increased pressure at the lower end of the market for workers to accept zero-hours contracts. The full details can be found in the Telegraph.
Barclays – 6 sectors set for growth
Barclays draw together a range of reports and resources to highlight the 6 sectors which are helping to drive through the CBI’s anticipated 2015 GDP growth of 2.9%. They cite house building, the creative industry, hotels, legal services and agricultural technology as being areas for considerable growth in 2015, with the market for convenience food expected to grow by a whopping 30% in the period up until 2020. Full details are on the Barclays Connector website.
Recruitment Buzz – top recruitment sectors for growth
Ian Knowlson from Selling Success gives his predictions on the recruitment sectors that will be growing strongest over the next 12 months, with engineering and financial services being particularly convincing. Also worthy of mention are construction, marketing & sales and IT. Ian’s article also identifies the healthcare industry as ‘one to watch’ for 2016. He feels that changes in the sector will come too late to have a major impact this year but feels that, regardless of the general election result, issues of underspending will need to be addressed in the new future and this will impact positively on opportunities. The full article is published by Recruitment Buzz.
British Retail Consortium – retail sector prospects for 2015
The BRC’s survey, conducted in November and accounting for around 18% of the retail industry by value, shows that UK retailers are upbeat about industry prospects for the next 12 months, with a large majority expecting higher levels of employment and investment. In total 76% of respondents reported that they expected sales to improve this year, and 78% said they were likely to employ more staff. However, the report cited the burden of business rates as the biggest threat to progress. Reuters reports on the full details of the survey.
Follow the Working Adviser LinkedIn Page for latest blogs, quizzes and content