According to a recent survey of more than 2,000 firms in the UK, the national labour market may be experiencing unexpected, albeit slight growth, especially in regards to permanent careers. Businesses that were steeling themselves last quarter appear to be recruiting new employees, even in sectors previously considered to be in economic danger. Firms previously expected to lay off employees are instead hiring more, action that can only bode well for much needed national economic stability.
Sir Mervyn King, Bank of England governor, dubbed growth unpredictable, but while Britain may be “steering a course through choppy waters”, King urged patience in a February press conference and assured the public that economic growth is a long process, but likely to “recover gradually.” The Department of Work and Pensions seems to resonate with the head of the Bank of England, claiming that in spite of unemployment figures that remain high, the number of available jobs is increasing; 60,000 UK citizens unemployed in the last quarter currently hold new full-time jobs.
General increase in positivity about economic outlook also seems due to the ensuing Olympic games, hosted in London from late July to mid August and likely to leave a great sense of national solidarity and functional revenue increase in their wake.
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