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UK Private Sector Job Creation At Strongest For Two Decades

21 Dec 2015

UK Private Sector Job Creation At Strongest For Two Decades

New statistics show that between March 2014 and March 2015, a net of almost 700 thousand UK jobs were created in the private sector, the fastest rate of jobs growth for two decades.

The findings come from Office for National Statistics data which has been analysed and compiled by the Enterprise Research Centre to reveal that, whilst 1.8 million jobs were lost over the period, 2.5 million jobs were created, amounting to a net of 695,500 new jobs in just twelve months.

The figures do not include sole traders and other organisations which don’t employ at least one member of staff, but offer some comfort to students hoping to find a graduate job after leaving university.

Around 40 percent of the 2.5 million jobs created over the twelve months were generated by new private sector companies start ups, while the other 1.5 million positions were created by established businesses.

Commenting on the research, deputy director of the Enterprise Research Centre, Professor Mark Hart, said: “There is a great start up story in the UK and we see that in the data. It is what you would expect as we emerge from recession.”

One area which the jobs data highlighted as being in decline was the export sector of the UK, with the number of businesses shipping abroad actually falling against a backdrop of a rising trade deficit.

British Chambers of Commerce’s chief economist, David Kern, said: “If we are to redress the balance and reverse our long-running trade deficit, more must be done to help support export growth, including improved access to funding.”

If you are an undergraduate starting to think about life after university, or you’ve already graduated but are still looking to land your first job, then check out all of the latest positions all over the UK in our Graduate Vacancies section now.

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