Employer confidence grows whilst unemployment rate creeps down...
According to the most recent JobsOutlook survey conducted by the Recruitment and Employment Confederation (REC) recruitment in the UK gained a boost from rising employer confidence in February.
The survey which tracks future hiring intentions by British companies showed that 62% of the employers surveyed would be looking to increase their permanent workforce during the next 3 months, with 32% planning to keep their permanent staff at current levels.
Around 31% of employers said they were looking to grow the number of temporary staff working for them during the next 3 months, with 54% planning to keep their temporary workforces at existing levels.
Director of Research at the REC, Roger Tweedy said that “Overall business and consumer confidence, although still fragile, seems to be picking up”
The research concludes that whilst it is still early days there are signs that the current momentum in the jobs market will be more durable than in 2011.
Figures this month have also shown that unemployment levels have fallen for the first time since May 2011 for the period December 2011 – February 2012. The fall is by a margin of 0.1%, the equivalent of 35,000 people, according to the Office for National Statistics.
The statistics for this period show that the total number of unemployed people was 2.65m. There were 29.17m in work, an increase of 53,000 on the quarter, making the employment rate for those aged 16-64 70.4%.
Analysis in the latest Work Audit report from the Chartered Institute of Personnel and Development (CIPD) shows that there are 200,000 more women aged 50-64 in employment now than at the start of the recession, while only 3000 men of the same age have entered employment. People aged 25-34 where the only other age group to see a rise in employment over the course of the jobs recession.
Dr John Philpott, Chief Economic Advisor at CIPD says “When it comes to work, older people have clearly fared better than young people during the jobs recession. But what’s also clear is that older women have done best of all’
He also stresses the business case for an age diverse workforce as the economy starts to recover.
So the latest figures suggest that we could be starting to see the labour market beginning to stabilise as confidence grows and unemployment levels gradually fall.