Latest News and Updates
10 May

More Good News - Jobs up!
More people are getting permanent jobs and the hiring of temporary workers has declined, according to a monthly survey of 400 recruitment companies.
The survey by the Recruitment and Employment Confederation and KPMG, the professional services firm, paints a modestly optimistic picture of the labour market despite its recent slowdown, reports The FT.

“Demand in the economy is returning, slowly but surely,” said Kevin Green, the REC’s chief executive. “Businesses are feeling more confident, hence steady levels of people being placed into permanent jobs and rising starting salaries across the north of England.”

The number of people placed in permanent jobs increased for a seventh successive month in April, and at faster rate than in March. Temporary hires declined for the first time in nine months.

The Revival is starting ...hopefully
The reality is of a slow, if not yet self-sustaining, recovery which is weathering both fiscal consolidation – such as it is – and a deepening eurozone crisis remarkably well.

Conditions remain undoubtedly fragile, but evidence of some sort of a revival in activity is growing. Once again, the IMF has demonstrated itself to be behind the curve. Late in catching up with the severity of the economic downturn, and too optimistic in predicting an early recovery, the IMF is now in danger of the reverse mistake – failure to see the upturn when finally it arrives.

While the latest purchasing managers' indices show the eurozone falling ever deeper into recession, equivalent surveys for the UK indicate that the growth spurt of the first quarter is continuing and may even be strengthening.

A survey published this week by the Institute of Chartered Accountants in England and Wales (ICAEW) shows a similar picture of rising business confidence. On this evidence, the UK is fast decoupling from the crippled eurozone.