Businesses have improved hiring intentions due to more confidence, says expert
A businesses expert has claimed that UK firms have begun to employ more workers in the last month, due to more confidence in the market.
Graham Randall, partner and head of Bristol-based accountancy firm BDO LLP, was taking to bristolpost.co.uk this week. He said: “We’re encouraged to see that businesses are growing in confidence and have sharply increased their hiring intentions over the past month, which should help to keep the unemployment rate on a downward trajectory.”
Mr Randall’s statement came after BDO LLP released its Business Trends report. This measures business hiring intentions over a six-month period. Results showed a score of 99.4 in December, which was up from 98.3 in November last year.
Business confidence is also on the rise too, according to the data. The optimism index reached 103.4 in December, which is the highest reading for seven years, according to westernmorningnews.co.uk.
However, despite the positive results, Mr Randall claimed that the report found many workers were still being forced into part-time work, as they couldn’t find a full-time role. He said that this is damaging labour productivity, which is still vastly below pre-recession levels.
Wages for UK workers are also still behind the rising cost of living, according to the research.