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UK job market shows signs of recovery

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There are signs that the UK could be recovering from the effects of the recession.

The results of the latest survey by the Recruitment and Employment Confederation (REC) and graduate recruiter KPMG found marginal increases in both permanent and temporary/contract staff appointments during August. It was the first growth of permanent appointments for seventeen months and the first increase in temp billings since July 2008.

Kevin Green, Chief Executive of the Recruitment & Employment Confederation, says:  “For the first time in 17 months, this month’s report shows signs that the UK jobs market is improving. It seems that employers are becoming more confident in their hiring decisions with an increase in permanent recruitment and growth in temporary placements for the first time in over a year.”

The BBC also last week reported that a number of economic surveys had been more positive about the state of the UK economy. Business Secretary Lord Mandelson said he believed the economy was coming out of recession but warned there may still be problems ahead.

“I think the signs are that it is [coming out of recession], but there is always a risk of a second recessionary dip,” he told the BBC. “Given that risk, we have to be sure that the measures and interventions that we are undertaking at the moment are continued and not withdrawn prematurely.”

A recent article in HR Magazine reported that Recruitment firm Manpower is predicting a 2% rise in hiring from October to December this year, with 80% of firms saying no redundancies are planned for this period.The survey of 1,200 employers shows four out of nine sectors predicting positive hiring prospects for the quarter ahead.

Furthermore last week it emerged that the Nationwide Consumer Confidence index rose to 63 in August from a revised 61 in July. This may indicate that people are starting to believe that economic conditions are beginning to improve, aswell as a greater willingness to spend.

“[This] is no surprise, as a number of key economic indicators continue to show that we may have reached the bottom of the current recessionary cycle,” Nationwide’s chief economist Martin Gahbauer said. (source: BBC News)

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