The private sector is continuing to do well, as hiring intentions and business confidence are both still on the rise, reports freshbusinessthinking.com.
According to data from the BDO Employment Index, hiring intentions
reached 99.4 in December, a 30 month high and an increase of November's
98.3. The index measures employer's hiring prospects over the next two
Apparently, the index has been at or above the 95.0 mark for employment
for 12 months and is nearing the 100.0 level that indicates that
employment is rising for the long term, which is extremely positive
In addition, business confidence rose to 103.4 in December, a slight
improvement from November's 103.1 and the highest reading seen in over
seven years, reports telegraph.co.uk.
Peter Hemington, partner at BDO LLP, said the data suggests that the UK
is able to create more jobs than previously expected, leaving behind
concerns regarding relaxed border controls that came into effect at the
beginning of January.
"We're encouraged to see that UK 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," he commented. "The flip side of all this is that labour
productivity is still far below its pre-crisis peak."
He added that underemployment is still a problem, as around 1.5 million
workers who want to work full-time have had to settle for part-time