London’s buoyant job market drives nationwide growth

UK job prospects increased in May, with London and the South East being responsible for much of the growth, reports.

According to the latest ‘Commercial Consumer Barometer’ from high street bank Lloyds, job prospects took a positive turn in May, with the overall employment confident indicator growing by four points. This was made up of a two point rise in optimism and a two point drop in pessimism.

Job security, meanwhile, continued at its three year high, although the number of respondents expecting interest to rise next year fell by two points.

Regionally, it was the South East which proved most popular, thanks to an increase of jobs in London, as well as other recruitment hotspots such as Brighton. Conversely, claims, the north east, Wales and Yorkshire reported some of the worst figures, as the ever-present North-South divide proved to be largely unchanged. Despite the poor recruitment levels, however, Wales and the North East had the best levels of job security, as those who manage to find jobs reported remaining comfortable and confident within them.

Lloyds’s barometer saw 2,000 respondents for their opinions on job security and prospects over the coming year. It aims to discovered whether conditions have improved, not changed or declined in the past 12 months, whilst also garnering anticipation of upcoming spending and interest rates.

by David Howells on June 7, 2013

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