REC: employers more confident in hiring, investing and UK economy

REC: employers more confident in hiring, investing and UK economy

Employers’ confidence in the UK economy and in their own hiring and investing has improved since the Brexit extension, new data from the Recruitment and Employment Confederation (REC) revealed on Wednesday.

The European Union previously agreed to postpone Brexit for an additional six months until the October 31. With the date coinciding with Halloween, the UK could have a rather poetic ending to their time in the European Union.

According to the Recruitment and Employment Confederation’s JobsOutlook survey, employers’ confidence in making hiring and investment decisions has increased by four percentage points, returning positive at +1.

Confidence in the UK economy has also increased, growing by 3 percentage points but still remaining negative at -26.

“The strength of our jobs market is one of the biggest assets the UK has, as it keeps people in work and raises their pay. Ensuring we protect the flexibility and opportunity it offers should be at the heart of any new government’s agenda,” said Neil Carberry, Chief Executive of the Recruitment and Employment Confederation.

“Today’s survey shows that businesses believe in their own prospects and are ready to grow if the pall of economic uncertainty is removed. The contrast between employers’ view of their own prospects and their view of the wider economic picture remains stark, however. Resolving this will require cool heads through the summer and autumn, so that companies can rely on a smooth and stable new relationship with the EU – not the chaos of a no deal exit,” the Chief Executive continued.

“JobsOutlook again shows how concerned employers are about skills shortages. Recruiters are helping with this, with 92% of hirers saying knowledge and expertise is key to choosing a partner who can help them navigate uncertain times.”

Elsewhere in UK politics, the race to leadership of the Conservative Party is reaching its final lap as Boris Johnson and Jeremy Hunt are the final two candidates to contest the party’s leadership and replace Theresa May.

The Conservative Party’s 160,000 members will now vote to chose the replacement.