Region remains employment hotspot as much of UK cools down
EMPLOYMENT prospects in the West Midlands are double the national average, according to new figures.
The Manpower Employment Outlook Survey said the region had recorded a rate of +12% for the fourth quarter of 2014 which, together with the East Midlands, is double the national average and the highest outlook in the country.
Recruitment firm Manpower said the figures indicated the jobs market in the region was thriving, with roles coming online across sectors from manufacturing to finance.
The Manpower Employment Outlook Survey is based on responses from 2,102 UK employers. It asks whether employers intend to hire additional workers or reduce the size of their workforce in the coming quarter. It is considered the most comprehensive, forward-looking employment survey of its kind and is used as a key economic statistic by both the Bank of England and the UK government.
“Over the last four quarters, the jobs outlook has been steadily increasing, culminating with the West Midlands producing the highest regional outlook in the country,” said Krissie Davies, Operations Manager at Manpower UK.
“The last time that the region had the best prospects in the UK was back in Q3 2011 when the outlook was also +12% – it appears that 12 is the magic number for us.
“Once again the picture in Birmingham is particularly strong for candidates seeking opportunities in the manufacturing and industrial sectors with skilled roles particularly in demand. Across the rest of the region we are noticing a particular demand for individuals with accountancy skills, while experience in sales is also highly sought. This is leading to a candidate-driven market where job seekers are able to be far more selective in the interviews they attend and jobs they accept.”
The UK’s National Employment Outlook of +6%, down from the third quarter of 2014 when the Outlook was +8%, is said to show that employers are scaling back their recruitment plans in the fourth quarter of 2014.
Manpower said the UK jobs market was cooling down following an unprecedented boom so far in 2014, when job creation peaked at its highest level since records began in 1971 raising questions about whether this phenomenal level of growth was sustainable. The fourth quarter’s Outlook suggests it is not sustainable with the two point fall in hiring intentions the sharpest dip seen in three years.
Despite the overall slowdown in hiring intentions, Manpower said some areas of unprecedented demand and acute skills shortages were helping to change the shape of the UK employment market.
James Hick, managing director of ManpowerGroup Solutions said: “While the pace of jobs growth has slowed, we are actually seeing the emergence of an hourglass jobs economy, with an abundance of demand at the top and bottom, while the middle remains squeezed.
“At the top of the hourglass we are seeing huge demand for skilled IT, finance and engineering candidates and our professional sourcing division has placed a record number of people to address skills shortages in these areas. While salary growth across the UK as a whole remains constrained, these sectors are bucking the trend as high demand is driving up pay.”
Along with the West Midlands, the East Midlands topped the charts with an Outlook of +12%. Also strongly positive is Yorkshire and Humberside, which finished a good year with a two point increase in Outlook to +10%. In contrast, the Outlook in the South West fell into negative territory with a reading of -4%.
