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 Looking back at April 2011....

Bill Haynes, Chair of Recruitment and Employment Confederation's (REC) Accounting & Financial Services Sector Group.

The Recruitment and Employment Confederation's latest Report on Jobs showed that permanent placements across the economy rose faster in April, whilst temporary placements slowed. However, finance, accountancy and financial services joined other key players in the private sector in showing continued growth, whilst public sector employment slowed radically, confirming that the UK is now in a 'two-speed' jobs market. The slowing of temporary appointments may be due to employer caution over the impending Agency Worker Regulations, set to come into effect later this year. Demand for permanent accounting and financial services staff continued to rise, with the sector holding steady in fifth place among the eight sectors covered by this research. The demand for temp workers in this sector also continued, consistent with previous months. Looking forward, the REC's latest Jobs Outlook shows that some 44% of employers across the economy anticipate an increase in permanent hires in the short-term, but again with a clear divide between the growing private sector and struggling public sector. Meanwhile, accounting and financial services may see uplift this quarter, as the three-month outlook came out positive for this important sector.

Comment from Steve Playford, Managing Director of Financial Times Recruitment Solutions.

The UK economy continues to move at a very slow pace and the announcement last week that it is only just about growing will cause concern across the boardrooms of UK PLC. Job creation is still slow although the IT and finance industries are currently enjoying the fastest growth of all sectors in the UK. If you are looking for real and sustainable growth in the jobs market it might be better to look East. A report by the New York Times last week suggested that China is the place to be. There are currently over 30,000 executive positions at top companies that need to be filled and 4 million middle management jobs will be created over the next couple of years with a dearth of talent to fill them. Chinese executives have also seen salaries rise by 30-50 per cent in the past 5 years compared to the usual 2-3% 'enjoyed' annually by European executives. The only drawback is that you need to speak Chinese - Mandarin classes anyone??


 Archives Issue 4 - March 2011
  Issue 3 - February 2011
  Issue 2 - January 2011
  Issue 1 - December 2010

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