Second quarter growth figures are good news
Second quarter growth figures are good news for jobs, says REC
The Recruitment and Employment Confederation has said faster than expected growth of 1.1 per cent in the UKs economy has in the second quarter of this year is encouraging news for jobs.
Commenting on the figures, REC Chief Executive Kevin Green says: This is good news for the UK economy and is well above expectations. The fact that we have the fastest quarterly expansion since 2006 will improve business confidence and should encourage firms to start hiring new staff.
Recruitment industry data confirms that demand for staff in the private sector has already been growing over recent months. We need to see this trend accelerating if we are to balance the 700k jobs that will be lost in the public sector in the next few years.
The figure released today - a preliminary estimate from the Office for National Statistics (ONS) - was almost double the 0.6 per cent growth rate expected by economists. Much of the growth came from the key services sector. There was a big contribution from the construction industry, which grew at its fastest pace since 1963.
The latest Report on Jobs published by the REC and KPMG showed a strong rise in permanent staff placements made by recruitment agencies during June, albeit the rate of increase was the slowest in five months.