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Private sector job creation to offset public sector cuts

Published: Monday, 15 November 2010   Category: All Graduate job news | Retail

Those seeking out graduate jobs may be buoyed by the news that private sector job creation in the final quarter of 2010 is likely to offset the cuts in the public sector.

This is according to the latest Institute of Personnel and Development (CIPD) and KPMG Labour Market Outlook (LMO) survey

Graduate jobs might not be the focus of the majority of the new private sector positions in the run-up to Christmas, but the figures showed a net positive balance of 11 when measuring the difference between the proportion of employers looking to increase staffing levels as opposed to those decreasing them.

It is the third consecutive quarter that this index has yielded a positive balance, with a large rise in the Q4 balance when compared to the summer alternative.

CIPD chief economic adviser Dr John Philpott explained that signs of sustained and increasing buoyancy in the private sector are great news for jobseekers and the country as a whole.

"What remains to be seen is how much of this good news is merely a pre-festive season surge in private sector jobs or evidence of a sustained improvement that will continue to offset large-scale public sector job cuts," he said.

In other positive job sector news, the Bank of Scotland has released figures showing a rise in demand for both temporary and permanent employees during October north of the border.

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