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Job Market Growth 'hits 10-Month Low' In August

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http://www.bbc.co.uk/news/business-11224407

Job market growth 'hits 10-month low' in August

Job appointments grew at their slowest rate for 10 months in August, raising further questions about the strength of the UK job market, a survey suggests.

The Recruitment and Employment Confederation (Rec) said both permanent and temporary placements rose at their weakest rate since October 2009.

Growth in pay also continued to slow, Rec said.

"Growth [in the UK's jobs market] is rapidly slowing as public sector job freezes start to bite," it added.

The body did, however, find that there were opportunities for some workers - such as chefs, nurses, engineers and internet developers - because of a shortage of skilled workers.

"A priority for government is to ramp up the support and guidance for job-seekers and to raise awareness of these growth areas within our labour market," said Rec's chief executive Kevin Green.

The latest figures show that the number of unemployed people in the UK fell by 49,000 in the three months to the end of June, to 2.46 million.

However, a number of analysts expect that number to rise in the coming months as a result of public sector job losses that will result from government spending cuts designed to reduce the budget deficit.

"Whereas demand for staff is growing in the private sector, many public sector organisations have started redundancy programmes," said Bernard Brown at KPMG, which produced the survey with Rec.

"In the months ahead we will see a substantial reduction in public sector headcount as the cuts begin to bite.

"The big question is whether the private sector can create new jobs in sufficient numbers and quickly enough to offset the downturn in the public sector."

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A story from the coalface here.. We run a recruitment website, a job board like Monster if you will.

Normally, agencies are clamouring for CVs, they're the lifeblood of a good agency, particularly if you've got a handful of large companies who are always on the lookout for good staff it can be licence to print.

We send regular updates of CVs to the companies registered with us. People pay good money for a nice feed of CVs, and yet we were send these out for free, so you would think any agency would welcome them right ?

I had an E-mail in today from one of them asking that we don't send them CV updates.. I enquired why and got told "No we are overloaded with them and can't cope with the amount we have".

We can't even give them away.

Edited by exiges

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Another story from the Independent, supporting the BBC story and exiges' experience.

I also note from this story and others in the media that the Treasury Select Committee is getting rattled.

http://www.independent.co.uk/news/business/news/recruiters-economists-and-business-minister-cast-doubt-on-jobs-outlook-2123519.html

"Recruiters, economists and business minister cast doubt on jobs outlook

By Sean O'Grady, Economics Editor

Fresh doubts have been raised about the economy's ability to absorb quickly the thousands of public-sector workers who will soon be made redundant as a result of spending cuts.

Across the economy in October, staff appointments rose at their weakest rate for 14 months, according to the latest Report on Jobs from the Recruitment and Employment Confederation and the accountants KPMG. The report also shows that growth in vacancies hit a one-year low last month and that there has been an increase in the number of permanent candidates looking for work.

Bernard Brown, a partner and head of business services at KPMG, said: "Many public-sector organisations have now started redundancy programmes, or at least imposed hiring freezes, and at the moment the private sector is not creating new jobs in sufficient numbers to offset this public-sector downturn. Employers across all sectors are more wary about taking on new staff."

And, after a remarkable recovery in the middle months of this year, the construction sector seems poorly placed to hire more staff and is set for a marked double-dip recession. The Chartered Institute of Purchasing and Supply said its headline confidence index slipped from 53.8 to 51.6 between September and October. Although above the neutral 50 mark, the readings on housing and employment are especially weak. Expected deep cuts in public programmes are depressing the sector.

Meanwhile, the Chartered Institute of Personnel and Development stood by its prediction that the deficit-reduction programme would cost 1.6 million jobs by 2016, despite hostile questioning of its chief economic adviser, John Philpott, by MPs. Professor Philpott, who was told he possessed the forecasting skills of a "dead octopus", told the Treasury Select Committee that growth for the next two years would be insufficient to generate enough jobs.

Government plans for creating jobs through local enterprise partnerships (LEPs) were also undermined by the leak of a letter from Mark Prisk, the minister for business and enterprise, to his Secretary of State, Vince Cable, declaring that the policy could be "a failure in large parts of England". The CBI's chief economist, Ian McCafferty, added that the LEPs "lack sufficient scale and resources"."

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Another story from the Independent, supporting the BBC story and exiges' experience.

I also note from this story and others in the media that the Treasury Select Committee is getting rattled.

http://www.independent.co.uk/news/business/news/recruiters-economists-and-business-minister-cast-doubt-on-jobs-outlook-2123519.html

"Recruiters, economists and business minister cast doubt on jobs outlook

By Sean O'Grady, Economics Editor

Fresh doubts have been raised about the economy's ability to absorb quickly the thousands of public-sector workers who will soon be made redundant as a result of spending cuts.

Across the economy in October, staff appointments rose at their weakest rate for 14 months, according to the latest Report on Jobs from the Recruitment and Employment Confederation and the accountants KPMG. The report also shows that growth in vacancies hit a one-year low last month and that there has been an increase in the number of permanent candidates looking for work.

Bernard Brown, a partner and head of business services at KPMG, said: "Many public-sector organisations have now started redundancy programmes, or at least imposed hiring freezes, and at the moment the private sector is not creating new jobs in sufficient numbers to offset this public-sector downturn. Employers across all sectors are more wary about taking on new staff."

And, after a remarkable recovery in the middle months of this year, the construction sector seems poorly placed to hire more staff and is set for a marked double-dip recession. The Chartered Institute of Purchasing and Supply said its headline confidence index slipped from 53.8 to 51.6 between September and October. Although above the neutral 50 mark, the readings on housing and employment are especially weak. Expected deep cuts in public programmes are depressing the sector.

Meanwhile, the Chartered Institute of Personnel and Development stood by its prediction that the deficit-reduction programme would cost 1.6 million jobs by 2016, despite hostile questioning of its chief economic adviser, John Philpott, by MPs. Professor Philpott, who was told he possessed the forecasting skills of a "dead octopus", told the Treasury Select Committee that growth for the next two years would be insufficient to generate enough jobs.

Government plans for creating jobs through local enterprise partnerships (LEPs) were also undermined by the leak of a letter from Mark Prisk, the minister for business and enterprise, to his Secretary of State, Vince Cable, declaring that the policy could be "a failure in large parts of England". The CBI's chief economist, Ian McCafferty, added that the LEPs "lack sufficient scale and resources"."

Just a thought - if you give them enough money, whether taxpayers' or freshmint, they can recruit from the ranks of the freshly unemployed instead of newly capped ranks of immigrants. Problem solved, or possibly two problems, or even three problems solved for the price of one, paid for by us. Hoorah, thanks Nick and Dave.

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  • 149 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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