Olympic benefits for London as the rest of the UK labour market slows

Momentum in the jobs market is set to slow sharply throughout the country, according to the CIPD’s Summer Labour Outlook survey. But luckily for Londoners, the “Olympic effect” is sheltering certain sectors in the capital.
By: www.londonlovesjobs.com
 
Sept. 16, 2011 - PRLog -- Momentum in the jobs market is set to slow sharply throughout the country, according to the CIPD’s Summer Labour Outlook survey. But luckily for Londoners, the “Olympic effect” is sheltering certain sectors in the capital.

One of the biggest selling points for hosting the Games was the potential boost to the local economy. At a time when the rest of the country’s manufacturing and construction industries are struggling, many London-based companies and workers have experienced a welcome reprieve.

“Tens of thousands of people are in employment in areas that they would have struggled with, had it not been for the 2012 Olympics,” said Gerwyn Davies, public policy adviser at the CIPD. “There have been a number of ripple effects, such as extra work being carried out on local infrastructure and recreational areas. Engineering is a profession that has really benefited.”

In January 2009, the London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) named Adecco as their official recruitment service provider.
Adecco told us that more than 60,000 candidates have already registered their interest in Games-related roles on www.jobsforthegames.co.uk, the official Job Board for London 2012 contractor and sponsor jobs.

Two of the biggest employment bodies are the Olympic Delivery Authority (ODA) and LOCOG. Some critics have argued that foreign workers took job opportunities away from Londoners, but the ODA released figures showing that 56 per cent of the 4,993-strong Olympic Park workforce had a permanent London address.

And 67 per cent of the 5,628 Athletes’ Village employees were long-term residents of the capital.

“With unemployment still on the rise, getting a job at the Games is not only likely to be a great experience, but for many people could provide a vital step in their quest for work,” says Steve Girdler, Adecco’s Director of London 2012 Partnership.

With record unemployment figures in the capital, this is good news. “We anticipate that many of the successful applicants will be unemployed – in fact we’re encouraging employers to actively consider the long-term unemployed.”

Still, many are sceptical that while the area is receiving a boost now, this will not be the case when the Games have finished. But Adecco are adamant that they will be setting outplacement support to help employees find future employment after the Games.

Davies of the CIPD is optimistic about the legacy and effect of the games on London’s economy:

“The timing of the Olympics is probably as good as it gets. One would hope that the global economic recovery will be quickening by the end of 2012.
“We are going to though a very difficult time, especially given the crises in Eurozone and the US. The Olympics will be able to sustain employment in London before the demand recovers.”
End
Source:www.londonlovesjobs.com
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Tags:Olympics, Jobs, London, Benefits, Legacy
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