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Temporary vacancies across London dipped by -15% between quarter four 2012 and quarter one 2013 while employment levels across other regions continued to climb, according to the latest vacancy report by recruitment firm Venn Group.
Across the UK as a whole, employment levels remained stable as vacancies dipped by -0.4% between the last two quarters.
But in the North West, temporary recruitment levels rose +53% and in the North East vacancies increased by +22% in the period. These figures can largely be attributed to an increase in engineering and manufacturing, spurred by a buoyant car industry and the Government’s National Infrastructure Plan.
Employment levels within commerce and industry have levelled out, following a sharp increase last quarter. Vacancies dipped -0.8% between the latter months of 2012 and early 2013, which signifies a degree of stability in the market. In London, vacancies in this sector are -59% below quarter four.
Within financial services employment levels have dropped further, declining by -48% between the past two quarters. In the public sector, temporary vacancies increased by +1.5% across the UK.
Robert Bowyer, Director of Venn Group said the economy continues to show signs of stability and professional contract and interim employment levels in the UK remain strong.
“The UK avoided a triple dip recession and business lobby group, the CBI, expects the economy to grow by 1% this year and 2% in 2014,” he said. “As employers adjust to this more stable economic situation, we believe they will increasingly turn to contract and interim staff as a valuable commodity.
“We predict that the manufacturing sector will continue to boost employment in the coming months. Growth prospects amongst English manufacturing SMEs is at a twelve-month high according to the latest Manufacturing Advisory Service (MAS) Barometer.”