Increase in private sector 'could balance out public losses'

Increase in private sector 'could balance out public losses'
An increase in private sector work could balance out the public sector job cuts, according to a new report, which has good implications for contractors.

According to research, more employers plan to take on workers than to cut jobs during the final quarter of 2010.

The research, which was conducted by KPMG and the Chartered Institute of Personnel and Development (CIPD), found a difference of +11 between those planning to hire and those planning to cut.

Dr John Philpott, chief economic adviser at the Chartered Institute of Personnel and Development (CIPD) said that some of the surge could be due to the festive season but that it is a positive development overall.

"Signs of not only sustained but also increasing buoyancy in private sector job prospects is encouraging, especially since some other forward looking economic and labour market indicators have been subdued of late," he said.
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