Recruiters’ reactions to ‘end of the recession’ claim
Downturn
Downturn
Recruiters have given a mixed reaction to claims made by a leading economic think-tank yesterday that the recession is over, after it released estimates showing that economic growth resumed in April and May.
The National Institute of Economic and Social Research made the claim based on estimates that the economy grew by 0.1% in May and by 0.2% in April, after contracting by 0.5% in March.
Other data from the Office for National Statistics, which showed industrial production rose by 0.4% over March and April gave further grounds for optimism that the economy may have bottomed out.
Geoff Newman
Geoff Newman, managing director of Acorn Recruitment, told Recruiter that the company had had the best April in 15 years.
“There has been an increase in confidence in the Kent business community, with a noticeable increase in temp to perm. A lot of permanent recruitment is going on.
“The Kent catchment area is predominantly white-collar workers, who were among the first to suffer from the downturn in financial services and property. We are now seeing a resurgence in financial services.”
However, Andy Hogarth, managing director of Staffline, was less optimistic. Hogarth told Recruiter: “I wouldn’t want to dampen their enthusiasm, however, it is too early to call the end of the recession.
“With the level of government debt and expected cuts after the election, I can’t imagine that the recession is over.
“We have stopped staring over the abyss, and there has been a levelling out, but that doesn’t mean the recession is over.”
