Bulletin

New year to be 'best for jobs market since 2007'

Hand shake for new job

Leading economist Dr John Philpott has predicted that the 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 in 2015. He said workers will also enjoy a 'sustained increase' in wages as employers face growing competition to recruit suitably skilled staff. Although 100,000 jobs will be shed by public-sector bodies, around half a million new roles are expected to be created by private companies. Dr Philpott's Jobs Economist consultancy reckons that unemployment will dip to 1.7m, giving a jobless rate of 5.2%.

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

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