THE GLOOM IS LIFTING

The recession is lifting, a study of over 3000 of Britain’s bosses reveals. Senior executive jobs site, TheLadders.co.uk, has found that 50% of bosses believe that the UK will be out of recession by Q4 2010, more than twice as many as six months ago when the figure was just 20%. 41% also believe that the job market will recover next year with new roles available for Britain’s 2.46 million unemployed.
Many bosses are buoyed by the recent quarterly unemployment figures which showed an actual decrease of 3.92% in unemployment amongst white collar workers during the last Quarter*. However, 58% of Britain’s bosses studied say that future job opportunities are at entry level.

Technology (27.1%), internet (25.1%) and food and beverage (24.1%) are the sectors most likely to recover earliest according to TheLadders.co.uk study which also reveals that 26% of Britain’s management believe that export due to the weakened pound could be a major catalyst to recovery. Other catalysts cited include growth and profit in the financial sector (24%) and domestic support of UK producers (20%).

TheLadders.co.uk found that 32% of bosses felt their organisations had become more efficient as a result of the recession whilst a further 31% felt the downturn was “a reality check” for business.

One in five said the biggest barrier to economic recovery is likely to be our own attitude to work. 21% of management questioned by TheLadders.co.uk cite the British attitude to work and “our strike culture” as impairing recovery, almost as many as believe that we are dependent upon a global shift to recovery (25%).

And finally whilst last year’s election of President Obama inspired many US businesses, 73% of bosses here see the forthcoming UK General Election as offering little hope to British business. Twenty percent say that the election may cause a temporary blip, 23% say the downturn is bigger than the UK and 30% believe that the UK economy is “in too big a hole” to spring back that quickly.

“While our survey results recognise the downturn will continue for some time to come, it’s encouraging to see optimism when six months ago, the study revealed much despair,” said Derek Pilcher, Managing Director of TheLadders.co.uk. “In adapting to the current climate, and becoming more efficient with time and resources, bosses are giving their businesses the best possible chance of not only surviving the recession but of emerging with a stronger proposition as a result.”
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