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| Version 1 | Version 2 |
|---|---|
| UK employment market 'recovering' | UK employment market 'recovering' |
| (about 2 hours later) | |
| The UK jobs market is starting to show signs of recovery, according to a survey of recruitment agencies. | The UK jobs market is starting to show signs of recovery, according to a survey of recruitment agencies. |
| The research, produced by Markit Economics, finds "marginal increases" in both permanent and temporary appointments in August. | The research, produced by Markit Economics, finds "marginal increases" in both permanent and temporary appointments in August. |
| For permanent staff, this is the first increase since early 2007. | For permanent staff, this is the first increase since early 2007. |
| "This is first time we have seen really positive news for the UK jobs market in 17 months," said Bernard Brown from KPMG, co-sponsor of the survey. | "This is first time we have seen really positive news for the UK jobs market in 17 months," said Bernard Brown from KPMG, co-sponsor of the survey. |
| 'Confident' | 'Confident' |
| The report also found that the decline in the number of vacancies is easing, and that the decline in pay is the slowest in 10 months. | The report also found that the decline in the number of vacancies is easing, and that the decline in pay is the slowest in 10 months. |
| A number of key economic indicators continue to show that we may have reached the bottom Martin Gahbauer, Nationwide economist After the shock, challenges remain BBC UK jobs tracker | A number of key economic indicators continue to show that we may have reached the bottom Martin Gahbauer, Nationwide economist After the shock, challenges remain BBC UK jobs tracker |
| "It seems that employers are becoming more confident in their hiring decisions," said Kevin Green, chief executive of the Recruitment & Employment Confederation, the survey's other co-sponsor. | "It seems that employers are becoming more confident in their hiring decisions," said Kevin Green, chief executive of the Recruitment & Employment Confederation, the survey's other co-sponsor. |
| However, the report said it was too early to say whether the encouraging figures signalled an end to the recession. | However, the report said it was too early to say whether the encouraging figures signalled an end to the recession. |
| The latest jobless figures showed that the number of people out of work in the UK has risen to its highest level since 1995. | The latest jobless figures showed that the number of people out of work in the UK has risen to its highest level since 1995. |
| Unemployment increased by 220,000 to 2,435,000 in the three months to June, taking the jobless rate to 7.8%. | Unemployment increased by 220,000 to 2,435,000 in the three months to June, taking the jobless rate to 7.8%. |
| Consumer confidence | Consumer confidence |
| Separately, Nationwide's Consumer Confidence index showed that UK consumers are the most optimistic about the future they have been in over a year. | Separately, Nationwide's Consumer Confidence index showed that UK consumers are the most optimistic about the future they have been in over a year. |
| The index rose to 63 in August from a revised 61 the previous month, the highest since May 2008. | The index rose to 63 in August from a revised 61 the previous month, the highest since May 2008. |
| The survey suggests consumers have a greater willingness to spend as economic data suggests the UK recession may be approaching its end. | The survey suggests consumers have a greater willingness to spend as economic data suggests the UK recession may be approaching its end. |
| "[This] is no surprise, as a number of key economic indicators continue to show that we may have reached the bottom of the current recessionary cycle," Nationwide's chief economist Martin Gahbauer said. | "[This] is no surprise, as a number of key economic indicators continue to show that we may have reached the bottom of the current recessionary cycle," Nationwide's chief economist Martin Gahbauer said. |
| On Tuesday, respected research institute the National Institute of Economic and Social Research said the UK economy grew 0.2% in the three months to August. | On Tuesday, respected research institute the National Institute of Economic and Social Research said the UK economy grew 0.2% in the three months to August. |
| And UK manufacturing output rose at its fastest rate in 18 months in July, helped by a sharp pick-up in car production, official figures showed. | And UK manufacturing output rose at its fastest rate in 18 months in July, helped by a sharp pick-up in car production, official figures showed. |
| Recovery risks | Recovery risks |
| But the Nationwide survey suggested consumers are still downbeat about their present employment and economic circumstances, with more than 70% describing it as "bad". | But the Nationwide survey suggested consumers are still downbeat about their present employment and economic circumstances, with more than 70% describing it as "bad". |
| On Tuesday, the British Retail Consortium said retail sales fell in August after two months of increases, casting doubt on a prolonged recovery in consumer spending. | On Tuesday, the British Retail Consortium said retail sales fell in August after two months of increases, casting doubt on a prolonged recovery in consumer spending. |
| Last week, official figures showed that he rate of contraction of the UK economy in the three months from April to June was 0.7% from 0.8% compared with the previous quarter - less than previously estimated. | Last week, official figures showed that he rate of contraction of the UK economy in the three months from April to June was 0.7% from 0.8% compared with the previous quarter - less than previously estimated. |
| But the annual drop of 5.5% remains the biggest since records began in 1955. | But the annual drop of 5.5% remains the biggest since records began in 1955. |
| The UK has been in recession since March 2008. | The UK has been in recession since March 2008. |