Philip Shaw, a chief economist with international financial services provider Investec, predicted that economic recovery will start to strengthen over the course of 2010 and demand for jobs will increase at the end of the year or the start of 2011.
'That should mean that what we see is a transition - where unemployment has been stable to rising over the last six months, we should be begin to see it stabilising and the number of jobs beginning to start increasing,' he commented.
Mr Shaw also claimed that the majority of vacancies will be created in the private sector, as spending cuts are likely to reduce the level of recruitment which takes place in the public sector.
In addition, the expert said that UK firms are currently favouring holding onto their workers rather than making headcount cuts to save money.
Last week, figures from the Office for National Statistics showed that UK employment rose by 53,000 in the three months to March, taking the total to 2.51 million.
'That should mean that what we see is a transition - where unemployment has been stable to rising over the last six months, we should be begin to see it stabilising and the number of jobs beginning to start increasing,' he commented.
Mr Shaw also claimed that the majority of vacancies will be created in the private sector, as spending cuts are likely to reduce the level of recruitment which takes place in the public sector.
In addition, the expert said that UK firms are currently favouring holding onto their workers rather than making headcount cuts to save money.
Last week, figures from the Office for National Statistics showed that UK employment rose by 53,000 in the three months to March, taking the total to 2.51 million.
