Too modest growth brake continuing recovery on the market of HR services
On an annual basis, an increase of 0.9% was recorded and compared to the previous quarter when growth was almost at a standstill, there a slight increase of 0.3%.
"Consumer confidence in the labor market has improved, and not without reason, as employment edged up 0.5%," said Paul Verschueren, Director Research & Economic Federgon Affairs.
Another positive point is the temporary unemployment continued to recede (-7.5%).
"However, the labor market will continue to suffer the consequences of poor economic growth in the coming years," Verschueren added. "National Bank does not provide 'only' 45,000 additional jobs in 2014 and 2015 and one should observe a slight decline in the unemployment rate until 2016."
Federgon sectors were also impacted by the effects of the slowdown. The temporary work sector delayed in Q3, and after experiencing sustained growth in the first two quarters of 2014. There is still positive growth year on year ( 5.6%), but compared to previous quarter, we can be talking to a standstill (-0.05%).
The demand for more specialized sourcing has had a positive influence on the activity in the projectsourcing sector ( 4.5%) and gave a strong impetus to the interim management ( 17.4%).
Private commercial service voucher companies have seen their business grow only ( 0.8%) but this can however be seen as positive the decline in the global market. The area of Recruitment, Search & Selection has confirmed its growth the previous quarter ( 2.6%). As for private prestatairesde training, they could not maintain the momentum of the slight growth in the first half and had a disappointing third quarter (-5%).
The number of accompaniments started in outplacement decreased compared to the third quarter of 2013 (-14%), and mainly due to a decline in the number of consecutive accompaniments to an individual dismissal.