The services sector showed modest growth last month, according to the most recent Markit/CIPS Business Activity Index.
The Index rose from 51.3 in August to 52.8 in September but overall growth for quarter 3 was the weakest since the second quarter of 2009.
The chief economist at Markit, Chris Williamson, commented on the results by saying that although the rate of business activity in September rose on the previous month he expects growth to remain subdued over the coming months.
The energy sector could provide a much needed boost to job creation thinks Andy Preston, the MD of energy recruiter BW Penman. He made his comment after Oliver Letwin told the Tory party conference that building a green economy and reducing carbon emissions are both equally important to the UK’s economic growth.
The government’s green agenda suffered a bit of a setback as electricity generation from wind, hydro and other “green” sources dropped in the first half of this year. But Preston believes that the additional funding the government is planning to inject into the energy sector will lead to a significant rise in new jobs.
There’s also good news for the City’s financial sector. Ambition, the global financial recruitment specialist, has reported that job vacancies in financial services and banking have reached their highest level for 3 years. The number of city vacancies has risen by 260% since the first quarter of 2009 and although there was a slight drop between Q2 and Q3 this year, the number of jobs available remains the highest since 2007.
The UK MD of Ambition, Tim Gilbert, said the City is now suffering from a skills shortage. In Q1 of 2009, there were three vacancies for every 10 candidates, now there are 11.
And the good news keeps on coming! The latest Technology Demand and Supply report from the REC shows that demand for IT staff increased in Q3. Vacancies for contractors were up 11% whilst permanent opportunities rose by 8%.
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