With government’s planned spending cuts, UK will lose half a million jobs in the private sector, while opportunities in the outsourcing industry will increase.
According to Jon Sibson, head of public sector at accountancy firm PricewaterhouseCoopers (PwC), this is not entirely bad news for the graduates. "A sector likely to see growth opportunities from spending cuts is outsourcing, and not only in back-office services." He added that the government and organizations in the public sector will increase the use of private and voluntary sector organizations when it comes to delivery of front-line services in order to lower operational costs.
PwC also said the highest number of job losses (122,000) will probably be seen in London, while the least number of losses will be in Northern Ireland.