The Manpower Employment Outlook Survey is based on responses from 2,100 UK employers. It asks whether employers intend to hire additional workers or reduce the size of their workforce in the coming economic quarter. The national Seasonally Adjusted Net Employment Outlook of +1% indicates that the jobs market is still in positive territory, having shown similar promise in the second quarter of 2012 with an Outlook of +2%.
Firms are still looking to hire albeit at a weaker pace than before but the sort of hiring that is going on is where you’d least expect it. Take the Finance and Business Services sector for example, which is +13%. We’ve all heard about banks shedding thousands of jobs, but the banks are also hiring thousands of temporary workers to deal with the fallout from the misselling of Payment Protection Insurance. Whilst these jobs aren’t for life, a number of the banks have announced recently that they are setting aside more money to deal with the claims. As a result, the finance sector- so critical to the UK economy - is going to need to hold onto these workers for some time to come,” said ManpowerGroup UK Managing Director, Mark Cahill.
The Utilities sector continues to hire apace as well. In fact with a runaway score of +16%, the sector sits at a 5 year high. Cahill adds: “The Utilities sector has been consistently strong in recent months. You’ve only got to look at the recent decision by EDF Energy to build a power plant at Hinkley Point in Somerset. Not only will this deliver secure affordable low carbon energy to around 5 million homes in the UK, it’s also creating 5000 jobs in the South West.”
There is also an interesting split between large and small employers in terms of attitudes to hiring. Big businesses are more optimistic (+8%) than at any time since 2010. However, when it comes to firms employing fewer than 10 members of staff – so-called micro businesses – are feeling the pinch at -2%.
