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Jobs market recovery will be slow, says expert
It is likely to take at least another three to five years for confidence to return to the jobs market, predicted Phil Flaxton, chief executive officer of Work Wise UK.
He pointed out that it would not be in the best interests of Britain to go ahead with borrowing right now, in the light of the huge deficits in the budget. This would be "unsustainable" in the future and give rise to high levels of unemployment, he added.
Mr Flaxton said: "It is all linked with the deficit that we've got and where the economy is right now against the global economy and it is a slow climb down. It's been widely talked about that we've got to get this under control in terms of the country's deficit. It is all linked together with growth and productivity and it is going to be slow."
His comments follow in the wake of a recent report published by the Chartered Institute of Personnel and Development, which argued that if the economic growth is slightly weaker than what has been predicted by the government, it would significantly impact the jobs market.
Posted by Peter Chad
