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Accountancy Recruitment December 2009
Accountancy News |
21/12/2009
While here in the UK we are still desperately trying to predict when the doom and gloom of the recession will come to an end, December brought the news that not only has the rest of the European Union (EU) entered a period of economic growth, but the UK is the only G20 nation not to have left the recession.
The Office for National Statistics confirmed last month that between July and September Britain's economy slipped 0.3 per cent, compared to the previous three months, while in the EU, gross domestic product grew by 0.3 per cent.
Lib Dem Treasury spokesman Vince Cable told the Daily Mail: "This is yet further evidence that the UK stands alone in how hard we have been hit by the financial crisis. An over-reliance on the financial sector and a pointless VAT cut have ensured that while other countries have started to climb their way back towards healthy growth, we continue to languish in recession."
However, it is not all doom and gloom, speaking at the REC 2009 National Convention Kevin Green, chief executive at the Recruitment and Employment Confederation, said that while UK recovery may be slow, improvements in the jobs market are already being seen.
"If you start looking at the data, there are some good signs for the last three months, the REC 'reports on jobs' has shown. We're just starting to see growth in vacancies and placements in both temporary and permanent positions. I wouldn't say there were huge volumes coming through but it is certainly slightly better," he added.
The latest Chartered Institute of Purchasing and Supply (CIPS)/Markit activity index also offered some hope to finance professionals last month. While the index fell to 56.9, slightly below the 57 reading anticipated by economists, anything higher than 50 signifies growth and experts suggest that this is mainly being driven by the financial and business services sectors.
Latest figures from the Ashdown Group Job Index show a drop of 2.75 per cent within the accountancy jobs sector through November compared to rises in all other sectors.
Commenting on the figures, Ashdown Group director John Lynes states: "There is a growing sense of optimism within the general jobs market. This has not been the case in the accountancy sector where we have seen a gentle downwards trend during the second half of the year, however this sector was one of the most robust during the first half.
In line with general economic growth predictions, I believe demand for accountancy staff will remain static through Q1 2010."
Posted by Jon Aspinell
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