UK Labour Market To Begin Long Road To Recovery In Q1 2010
UK’s Net Employment Outlook is out of negative hiring territory for the first time since Q3 2008 at 0%
Finance and Business Services sector employers are the most positive of all UK sectors at +7%
Hiring confidence within the Public Sector dips to a flat 0%
LONDON, 08 DECEMBER 2009: Tough conditions in the UK’s employment landscape have dominated 2009 but there is better news on the horizon. Today, 2,100 UK employers have reported their most encouraging hiring intentions for five quarters in the only forward-looking employment survey of its kind, the Manpower Employment Outlook Survey. While the UK may not yet be out of recession, these results are initial indications that the overall labour market is on the long road to recovery, with a Seasonally Adjusted Net Employment Outlook of 0%ยน reported for Q1 2010.
For the last 12 months the Finance and Business Services sector has been in the spotlight across much of the world, for its contribution in leading many of the world’s developed economies into recession and subsequent job losses. A primary factor in the UK’s fall into negative Outlook, the sector’s return to a solid positive hiring territory at +7% is good news for other sectors and traditional industries that may also be on the edge of recovery.
Mark Cahill, Managing Director at Manpower UK, comments: “The glimmer of hope we saw last quarter is now turning into an encouraging spark. The deeply troubled Finance and Business Services sector of a year ago, which now has the most positive hiring intentions of any industry sector in the UK, is testament to this turnaround in hiring sentiment. While there is still some way to go before the UK makes a full recovery, it is encouraging to see this key sector return to growth.” To read the full length article Click Here
To download a copy of the Manpower Employment Outlook Survey (MEOS) Click Here