IT Distance Learning News

UK economy may be through the worst

Anyone who has recently completed IT home study and is now looking for work might be encouraged by reports suggesting the rate of private sector unemployment is slowing.

John Hawksworth, head of macroeconomics at PricewaterhouseCoopers, said the news is "consistent with other evidence that suggests that while the recession may not be over, we at least may be past the worst of it".

However, Mr Hawksworth said it might be a long time before the public sector begins to pick up, as predicted government spending cuts create a "significant drag on growth".

"There will still be a recovery, but it will just slow the recovery down," he added.

Meanwhile, further cause for optimism among private sector workers comes from Markit's Purchasing Managers' Index, which has risen above 50 for the first time since March 2008.

Any mark above 50 is said to signal growth in the economy.

Written by Eve Critchley