Both the accountancy and manufacturing sectors have witnessed hikes in recruitment over the summer as the economy recovers, according to figures out today.
EEF, the manufacturer’s organisation, revealed the number of companies recruiting in its sector had almost doubled over the past three months.
Its Manufacturing Outlook report found that companies had increased recruitment to almost double that of the previous quarter, giving a rise of 17 per cent in recruitment. This is the strongest rise in the sector’s employment since the survey began in 1995.
Employers questioned for the survey also said they expected recruitment to continue to increase over the next quarter.
Respondents said the jobs hike is being driven by a demand for temporary or agency working, which offer employers flexibility if demand slows down.
This boost in job levels has been sustained with output and orders balances reaching record levels for the second quarter in succession, the EEF said. Performance continues to be driven by the strength of overseas markets. However, uncertainty about future demand remains and has dampened some investment plans.
Lee Hopley, EEF chief economist, said: “Manufacturers have continued to reap the rewards of growth in overseas markets with the upswing being felt across all sectors and regions. Not only has this continued to translate into better employment prospects but the recovery in investment has begun much earlier in the cycle than after previous recessions.”
But she warned employers that “the recovery is coming from a very low base and the risks to the economy in the medium term haven’t gone away”.
Further research from recruitment firm Reed showed demand for new accountancy staff rose to a record high in August.
According to the Reed Job Index, new jobs for pre-qualified accountants have risen to their highest level since the firm began recording data in December 2009, with a 17 per cent rise in vacancies since then.
But the data also showed salaries for these roles had fallen slightly in August, although they held steady for fully-qualified accountants. The recruiter highlighted other sectors that had shown a rise in recruitment as leisure and tourism, retail sectors, customer services, banking, and strategy and consultancy.
Martin Warnes, managing director of reed.co.uk, said: “As growth returns to the business world, employers have clearly recognised just how vital both pre-qualified and fully-qualified accountants are to keep them ahead of the competition.”