With data showing that firms are becoming more positive about their prospects, it’s been suggested that the government should take advantage of this mood.
According to findings from the Recruitment and Employment Confederation’s latest JobsOutlook, the net balance of employers’ confidence in making investment and hiring decisions was +4 in October-December.
However, there are also reports of firms taking longer to make hiring decisions and having greater caution due to concerns about the wider economy.
The REC believe that the government should use the spring Budget to unlock employers’ confidence in their own business by tackling these doubts.
Neil Carberry, Chief Executive of the REC, commented on the findings, “Firms believe in themselves – but they need reasons to believe in the path of our wider economy.
“At the Budget, the Chancellor has a huge opportunity to encourage companies to turn on the investment taps. Finally committing to radical skills reform, including the failed apprenticeship levy, reforming tax and regulation to support flexible workers, and investing in infrastructure that drives growth and helps people into work will all be vital.”
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Neil added, “There are billions of pounds of extra growth and prosperity in getting things right now – we don’t need to wait for an election.
“Right now, our labour market and the economy are in a bit of a stand-off. The jobs market has been remarkably robust – with three years of strong growth in temporary work helping to keep employment high as firms react to their new competitive and technological environment.
“That permanent roles are strong in this data suggests that anecdotal feedback from REC members that the market has found the bottom of its contraction is valid. It is no surprise that temp volumes are flatter – this market has grown almost continuously for the last four years.”
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