Partly Cloudy

Partly Cloudy

max temp: 6°C

min temp: 1°C

Search

East Anglia: Outlook for private sector employment at 30-month high, BDO survey shows

17:07 13 January 2014

Marilyn Martin of BDO LLP, Ipswich.

Marilyn Martin of BDO LLP, Ipswich.

Archant

Private sector hiring intentions have reached a 30-month peak as business confidence approaches record levels, according to the latest BDO Employment Index.

shares

The monthly report, which monitors businesses’ hiring intentions for the next two quarters, reached 99.4 in December, up from 98.3 in November.

The index has now been at or above the crucial 95.0 level that indicates employment growth for 12 months and is now almost at the 100.0 mark which points to employment increasing at its long-term rate. This indicates that employment is gaining pace with the wider economic recovery.

Business confidence showed similar improvement, with BDO’s Optimism Index, which predicts business performance two quarters ahead, reaching 103.4 in December, up from 103.1 in November − its best reading in more than seven years and only just below the all-time high in the 22-year history of the report.

Marilyn Martin, partner and head of BDO LLP in East Anglia, said: “We’re encouraged to see that businesses are growing in confidence and have sharply increased their hiring intentions over the past month, which should help to keep the unemployment rate on a downward trajectory.

“The issue of unemployment is particularly important given the Bank of England Governor Mark Carney’s decision not to allow an interest rate rise until the unemployment rate is at or below 7%.

“The flip side of all this is that labour productivity is still far below its pre-crisis peak. As a result, the issue of underemployment remains, with some 1.5 million workers seeking full-time jobs being forced to work part-time over August-October 2013.

“Linked to the debate around employment is the politically sensitive issue of immigration. The Government will undoubtedly be waiting with baited breath to see the effect of the relaxation of border controls that came into force on January 1st 2014. However, our data suggests that the UK has the capability to create more jobs both for UK citizens and for others than some might expect.”

shares

0 comments

Police are at the scene of the ram raid

A cash machine has been stolen in a ram raid at a petrol station in Sudbury in the early hours of this morning.

Shadow cabinet minister Jonathan Ashworth visiting Ipswich to see the work on boosting the Princes Street area, Ipswich. Left to right, Jonathan Ashworth,  Councillor David Ellesmere.

Shadow cabinet minister Jonathan Ashworth has visited Ipswich to see the town’s growing business area – and the new home of Archant’s Suffolk titles.

Warren Hill at Hollesley Bay

Warren Hill prison in Hollesley has been praised in a report by HM Inspectorate of Prisons.

 Felistowe beach

Forecasters are predicting a more settled day today after blustery showers from Storm Imogen battered Suffolk yesterday.

Felixstowe Road, levington closed after roofing blows off building.

The road was closed in both directions between the Strattonhall Drift and the Bridge Road junctions.

Isaac's new extension

A churchgoing burglar in a suit who stole drills and a laptop from an Ipswich waterfront pub has been jailed for eight weeks.

The Mid Suffolk Light Railway prepares for its Easter weekend event. Zach Bond cleaning a train.

More visitors attended a Suffolk heritage railway than ever before, according to figures.

Members of the Leiston Works Railway Trust attempting to clear the track on part of a disused line

It’s been more than 40 years since trains last ran to and from the engineering works in Leiston.

Fire crew attending the aftermath of a house fire on Whatfield Way, Stowmarket.

Three fire crews were called to a house blaze in a Suffolk village.

South East Suffolk Magistrates' Court

A drunken shoplifter who stole vintage port, lager and a coat from Ipswich town centre stores has been given a conditional discharge.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Great British Life

Great British Life
MyDate24 MyPhotos24