The UK economy is on the mend. After one of the most challenging recessions in living memory we are now seeing growth and increasing employment. But the recovery is still fragile and long-standing challenges remain.
The recession was a powerful reminder that the UK’s fortunes are played out within a dynamic and global economy.
Two features stand out. Firstly, the recession has provided further evidence of a shift in the shape of the labour market as globalisation and advances in technology transform markets, businesses and ways of working. This has fuelled growth in high skill jobs and new higher skilled technical roles, creating an ‘hourglass’ effect. Prospects are good for those at the top, with high level skills, but there is greater competition for those at the bottom, and bigger steps needed to get on and move up. The career ladder is becoming that little bit harder to climb.
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How can the issues still facing skills and employment as a result of the recession be resolved? What issues is your company facing? Share your thoughts in the comments section below.
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