Recruitment plans on track despite confidence drop

Businesses across Yorkshire and the Humber are still going forward with recruitment plans in 2019 despite confidence falling from a yearly high last month, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

The data shows that 28% of the region’s firms now plan to create jobs in the next 12 months, which remains a higher proportion than in any other UK region outside of London.

This follows on from overall business confidence in Yorkshire and the Humber falling back into line with the rest of the UK during December, dropping 26 points from a high of 43% in November to 17%, the same as the national average.

Companies in Yorkshire reported lower economic optimism at 11%, down 29 points compared with November, and lower confidence in their business prospects at 24%.

The Business Barometer questions 1,200 businesses monthly and provides early signals about UK economic trends both regionally and nationwide.

Kelly Green, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “November’s spike now appears to have been an outlier and this month’s Business Barometer ultimately finds the region’s firms close 2018 with a pragmatic rather than bullish outlook to the year ahead.

“What is most encouraging is that Yorkshire firms’ intentions to create jobs are far more resilient, which acts as a positive sign for region’s economy going into 2019.”