A study by recruiters Manpower has indicated that employers are intending to hire over the next three months. Surveying 2,102 employers, the study found that 6% more firms were looking to hire in the quarter than were looking to fire.
By historic standards, 6% isn’t spectacular, but it’s a sign that the economic recovery is continuing nice and steadily. A closer look, however, shows some stark regional differences.
While the Midlands continues to surge at an optimistic 12% and London rises from 1% to 9% on the back of increasing demand for labour in the financial and business sectors, other areas aren’t faring so well.
Scotland, the East, Northern Ireland, Wales and the Northeast are all at less than 5%, while Manpower’s hiring index for the Southwest seems to have plunged from 16% to -4%. A sign, perhaps, of overconfidence over the summer?
Despite the mixed fortunes of the UK’s regions (could this be the last time this survey counts Scotland as a UK region?), the overall picture is pretty rosy. Until you get onto wages, of course.
Although the job market has been buoyant recently, wage growth continues to be sluggish. Indeed, Bank of England Governor Mark Carney will today address the Trades Union Congress on wage growth, which the Bank expects to be a measly 1.25% for the year, although short of raising minimum wage it's unclear what he can do about it.
More jobs there may be, it seems, but don’t expect a pay rise. Unless you’re a CEO, of course.