The Economic Advisor

Economy and Employment Bouncing Back (Slowly)

Things appear to be on the up economically and on the employment front. A whole raft of figures including a survey of 2,100 UK employers by UK recruitment specialists, separate reports from the Recruitment and Employment Confederation and KPMG, as well as Government data on job vacancies in July suggests that the worst of the recession and its associated unemployment may be over. Whist there is a lag between improved economic conditions and improved employment rates the positive signs in the economy do offer some hope to the increasing numbers seeking work.

Set against the backdrop of official figures that show unemployment in August hit a 14-year high of 2.44 million (unemployment is forecast to reach three million in the UK before the recession ends), and with nobody employed in more than 15% of households with adults of working age, you might be forgiven for thinking that the future looks bleak. This is certainly not the case. The signs are that industry is seeing clear light at the end of the tunnel with various reports indicating that recruitment intentions across the economy are rising.

For the first time in three years Britain’s employers are reporting improved recruitment plans, offering a “glimmer of hope” to jobseekers in the run-up to Christmas. For example, an estimated 100,000 new seasonal jobs are expected to come on line through the likes of supermarket giants ASDA (20,000), Sainsbury’s (20,000) and Tesco (6,000) with the likelihood that a decent proportion will be retained on a permanent basis into 2010. Sure, not the flavour of jobs that everyone is looking for, but positive news nonetheless. One aspect of the research that has come to light though, is that many employers are planning to recruit older more experienced workers, as opposed to younger staff. It’s a particularly sad fact of this latest downturn that new graduates and school-leavers have found the job market particularly hard. Nearly one million people under 25 were out of work as of July.

Whilst the labour market is still considered weak, the underlying causes behind the continued increases in unemployment have hopefully been addressed, KPMG reporting that the number of people the number of people finding new jobs in August rising for the first time in 17 months. Government figures largely corresponded to these findings with the fall in job vacancies slowing slightly in July, the rate of contraction easing slightly to 32.2 per cent, from 33.9 per cent in June.

Though they have been declining throughout the recession the rate at which wage rates for both permanent and temporary staff have decreased has also has slowed. Certain to take time, recovery is as yet, still fragile. As long as the improving trends relating to business intentions to hire continue, the real world jobs will inevitably follow. Whatever your profession, there are high quality and determined, professional agencies out there who you can turn to. Specialist nurse recruitment agencies , doctors recruitment agencies or pharmacy recruitment agencies for example who can help with advice, guidance and access to the best positions on the market.

Whatever your specialty, whilst vacancies are relatively few, what better time than now to partner with a appropriate agency, benefit from their input and really maximize your recruitment opportunities?

Logan Odell is a freelance author and has the vast knowledge in Employment Agency and Recruitment Agency. For more information on Employment Agencies he suggests you to visit: http://www.gotorecruitment.co.uk.