Overcast

Overcast

max temp: 9°C

min temp: 6°C

ESTD 1874 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

Teen robbed of phone and bike

Police are appealing for help to find two men who robbed a teenager at knifepoint.

Suffolk Fire and Rescue crews called to fire at Stowmarket home

Police have arrested a man on suspicion of arson and affray after a fire was started at a Suffolk home and officers threatened with a knife.

Trains cancelled due to lack of driver

A number of trains have been cancelled this evening due to an absent driver.

Suspected gas explosion on Federick Road in Gorleston.

 Picture: James Bass

Two people have been taken to hospital following a suspected gas explosion near Lowestoft.

David Murton (L to R) Paul Whiting and Bill Barton in front of the main telescope at the Orwell Astronomical Society. Photograph Simon Parker

Astronomy enthusiasts will be gathering outside Isaacs on March 20 to view the celestial event - and you are invited to join them.

The Ormiston mini marathon at Trinity Park in 2014

This weekend’s Ormiston Families Children’s Marathon has been postponed.

Police called to scene of road collision

Police have been called to the scene of a collision between a car and a motorcycle on a road near Sudbury.

The new community cinema launched in St Mary's Church in Bury. Joanna Rayner and Rev Cannon Malcolm Rogers are pictured.

A Bury St Edmunds church is turning into a cinema as it intends to hold free community film events over the coming year.

@TheRec in Stowmarket

Six buildings in Suffolk are in the running to win awards dished out by the Royal Institute of Chartered Surveyors.

Cobbolds Point, Felixstowe, by Peter Smith, is on show as part of the Suffolk Creative Photographic Group exhibition at Woodbridge Library during March

From broody compositions to sun-kissed scenes – an exhibition of photographs currently on display at a Suffolk library has a bit of everything to offer.

Most read

Most commented

Topic pages