UK jobs: who's in demand?
Wednesday, 03, Mar 2010 12:00
Despite the uncertainty surrounding public finances, many industries in the UK are optimistic about the recovery of the local economy.
Revised GDP figures from the Office for National Statistics show that the economy expanded by 0.3% in the last three months of 2009 after contracting steadily for six quarters in a row.
As Britain begins its slow journey back to health, new employment opportunities are appearing on the horizon for jobseekers with the right combination of skills and experience.
Manufacturing
Manufacturing jobs are picking up across the UK thanks to an upward swing in export orders, which have been bolstered by the weak pound.
According to the CIPS/Markit purchasing managers' index (PMI), manufacturing grew faster in January and February than it has in fifteen years. The headline activity reading measured 56.6 in both months, where a number above 50 denotes growth.
As overseas demand for locally produced goods climbs, factories have been raising their prices and preparing to increase headcount. Now is an ideal time for those with manufacturing skills to get their CVs ready and apply for jobs.
Life sciences
Another area of the labour market that shows promise for highly skilled jobseekers is the life sciences sector. It seems as if those pursuing careers in the pharmaceutical or biotechnology industries are soon to benefit from a new tax regime.
The government recently reduced the tax on revenue from patents developed in the UK by 10%. Named 'the patent box', this new tax system has been introduced with the aim of making Britain a more attractive destination for high-technology business.
Similar schemes already exist in countries like Switzerland, the Netherlands and Belgium, which means that many high-profile businesses have been encouraged to move there from the UK.
Britain introduced the patent box to prevent this from happening and encourage more innovative firms to make the UK their base. Thousands of employment opportunities will be created locally as a result.
In an interview with the Times, GlaxoSmithKline's Chief Executive Officer, Andrew Witty, said that the tax cut would generate around £500 million of additional investment in local biosciences.
He added that this would translate into 1,000 jobs at his firm alone. At least 600 new biopharmaceutical positions will be created, with an additional 400 opportunities arising elsewhere in the company.
Ensuring life scientists are workplace ready
It's important that those seeking science jobs have the practical skills necessary to work in a laboratory or industrial environment.
According to a recent study by the Scottish government, many graduates lack the practical knowledge and experience necessary to work in this highly regulated industry.
In order to address this skills gap, a new scheme has been launched in Scotland to prepare scientists for successful careers in the burgeoning life sciences sector.
The Science Graduates for Work programme, managed by Forth Valley College, is designed to make scientists more 'work ready' by giving them the opportunity to learn valuable laboratory skills and increase their industrial awareness.
Considering the fact that Scotland's life sciences industry contributes £3 billion to the local economy per annum, it's not surprising that authorities are investing in programmes like this to improve scientists' workplace skills.
Going solar
Green energy jobs are also beginning to pick up after the government announced that it would guarantee above-market prices for 'green' power sources.
From April 2010 onwards, these 'feed-in tariffs' will enable homeowners to earn back money for producing their own electricity from renewable sources. For instance, adding solar panels to an existing rooftop will bring in 41 pence per kilowatt hour generated.
According to government estimates, a typical 2.5-kilowatt PV installation may save consumers £140 per year on their electricity bills, on top of earning £900 for the power generated.
Andrew Lee, an executive with an electronics maker, told Bloomberg that thousands of jobs would be created in the solar industry as a result of this new pricing strategy.
"Because of all the investment and the feed-in tariff, we could create an industry which has an additional 30-odd thousand jobs across the whole sector."
Time to prepare
It's encouraging to know that while public finances remain shaky, the government has put measures in place, such as tax cuts and feed-in tariffs, to nurture certain sectors of the economy.
Those with the necessary qualifications, skills and experience should prepare themselves to take advantage of the upcoming opportunities in manufacturing, life sciences and solar energy.