Sharpest rise for almost four years

‘Strong and accelerated rises’ – that’s a phrase we haven’t heard in relation to the job market for a long time. But, according to the latest figures, it is apt.

We feed information into the monthly Report on Jobs, published by the REC and KPMG and February’s figures are looking good.

Permanent placements increased at the sharpest rate in 10 months. Temporary billings fared even better with the greatest rise since May 2007 – that’s almost four years.

And it wasn’t just appointments that scored robust growth. The overall level of vacancies showed the strongest rate of increase since last April. There are more candidates in the market too – especially those looking for temporary work.

Of course, any positivity these figures generate – and they certainly should generate some – has to be tempered by what is happening in the public sector. While the private sector is hiring, the public sector is shedding jobs. The Report on Jobs shows that while the IT and computing sector saw accelerated growth over the last 12 months, nursing, medical and care sectors have declined.

The REC’s chief executive Kevin Green described the situation in the UK as a ‘two speed labour market’. He also anticipates unemployment will continue to rise until the end of this year before starting a slow decline into 2012.

We certainly believe the overall findings of the latest national figures are reflected here in Peterborough and hope the positivity generated helps push the local economy forward over the coming months.