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Comment on ONS unemployment figures

Comment on ONS unemployment figures

 UKrecruitment body comments on the employment figures: Jobs are still being created

Following the release of the official employment figures today, the Recruitment & Employment Confederation (REC), the representative body for the UK recruitment industry, has underlined the fact that new jobs are still being created and that flexible work options are continuing to provide an important outlet for both employers and jobseekers.

REC’s Chief Executive Kevin Green said:

“Today’s figures fit with the REC’s own monthly Jobs data which has shown a deceleration in demand for staff over recent months. However, it is important to note that new jobs are still being created. Today’s figures also confirm that the crucial flexibility within our labour market is helping to prevent unemployment rising to the levels seen in other parts of Europe.”

“The ONS figures show that 25,000 new jobs were created, of which 20,000 came in the temporary market.  With a near-record number of people also working part-time, it is clear that employers are looking to flexible workers to sustain their business through these tough times, preventing potentially much worse news.

“Looking ahead, we are unlikely to see significant jobs growth until the middle of 2012. However, the UK labour market is resilient and flexible working options will continue to provide a crucial outlet for both employers and job-seekers”.

“Furthermore, with A-level results coming out tomorrow and a new generation of school leavers entering the jobs market, it is important that young people are given the support and guidance they need. Although 15,000 more young people are out of work, unemployment amongst 16 and 17 year olds fell by 5,000. This may be the first welcome sign of the government’s focus on apprenticeships beginning to pay dividends.”

RISING UNEMPLOYMENT CAUSE FOR CONCERN, BUT MANY NEW JOBS CREATED IN PRIVATE SECTOR – CBI

The CBI today commented on latest official unemployment figures showing the number of people out of work rose by 38,000 to 2.49 million in the three months to June.

Dr Neil Bentley, CBI Deputy Director-General, said:

“Unemployment rising is a significant concern, but there is some cause for optimism in that over half a million net new jobs were created by the private sector in the last year, and total numbers employed also rose in today’s figures.

“Addressing the persistently high level of youth unemployment has to be a priority, with numbers of 18 to 24 year-olds out of work continuing to rise.

“Businesses are committed to getting young people into work, with many already offering apprenticeships, training opportunities and work placements. But the Government must do more to prioritise private sector growth, which is the best way to create jobs.”

A recent CBI project explored ways of getting all the UK working by tackling long-term unemployment and inactivity. Further details can be found at: http://employment.cbi.org.uk/reports/mapping-the-route-to-growth-rebalancing-employment

 

ONS unemployment figures- A comment from Robert Half

Following today’s surprising ONS unemployment figures, please find below a comment from Robert Half UK, the specialist recruitment consultancy.

Neil Owen, Director of the London operations of Robert Half UK says:

“Despite poor UK employment data released this morning and recent announcements within certain areas of the financial services market, we are seeing strong demand from companies in a number of sectors and regions who are still hiring. Employed professionals continue to look for new opportunities, indicating confidence amongst both hiring managers and job hunters within the market.

“While those unemployed for up to six months has also risen this quarter, we are hearing from some companies that they lack the talent they need to address emerging business opportunities and that managing growth and rising workloads are the two key reasons for adding permanent staff. Financial and business services as well as the natural resources sector are areas where demand outweighs supply for top talent.“

Disappointing unemployment figures reinforce need to help private sector create jobs

Unemployment in the three months to June rose by 38,000 employment increased by 25,000

Commenting on the labour market statistics published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:  

“The figures reveal a worrying rise in unemployment and a significant increase in the claimant count. There is a clear slowdown in the number of jobs being created, which has halved since the previous quarter. One of the most concerning features is the sharp increase in the number of people working part-time because they could not find a full-time job, at the highest level since comparable records began in 1992. Though there is a small increase in earnings growth, the scale of the rise is modest.

“Given the government’s programme to reduce the deficit, the figures are not altogether surprising. We expect unemployment to increase by 150,000 over the next year or so, peaking at around 2.6m. The private sector is willing and able to create new jobs, but faced with a tough environment, businesses need to be given the right conditions to take on more staff. The government must reduce the burden of red tape on businesses, and ensure we have a skills system that delivers the right candidates for those wanting to grow their workforce.”

In a report launched today, the (BCC) revealed that micro businesses (those with fewer than ten employees) want to grow, but find it difficult to recruit staff for the job. In a survey of over 2,000 micro businesses, over half (55%) are looking to increase the number of staff they employ. However, one in two (50%) find it difficult to recruit the right people.   

 

Comment on unemployment - redundancies and insolvency - Dave Way, Marks Sattin

Dave Way, managing director of accountancy and financial services recruiter Marks Sattin said:

“The sharp increase in redundancies in June is primarily a result of the streamlining and drastic cuts that businesses have to make due to the difficult economic conditions in UK. Sectors like the retail, construction and property sectors have been worst hit. This is of course terrible news for those out of a job, but it has meant considerable jobs growth for those in insolvency and restructuring.  For these professionals 2011 will see headcount rise in this sector by 25% with salaries rising rapidly as demand goes through the roof.  Bonuses have risen to 15% of salary.  At director level, the average pay rise this year has been 17.5% – which means directors will receive total pay in excess of &pound135,000 this year.  More retailers look set to struggle as the year goes on with sluggish growth, and this will push unemployment up further.  But for accountants – especially those with I and R skills – 2011 will be a vintage year”.

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