“Cautious Optimism” or “Green Shoots”?

The news from within the recruitment industry, based on this months ‘Report on Jobs‘ (produced jointly by the Recruitment & Employment Confederation and KPMG), talks about the first rise in permanent appointments for 17 months coupled with an increase in temporary/contractor billing since July 2008 which is all very positive news.

It is generally acknowledged that the recruitment industry and the housing market are often the first into a recession and also the first out of it. If this is true, then perhaps we are at a turning point and starting the long climb out of recession. As for Alistair Darling’s prediction that we will be moving out of recession ’round the turn of the year’, I think most would agree that the statement is one of hope and aspiration rather than solid prediction. The number of job losses announced each week remains significant. The Office for National Statistics shows that 700,000 jobs were lost in the private sector between March 2008 – March 2009 and the Chartered Institute of Personnel and Development warn that unemployment is likely to hit 3million by Spring 2010.

But it’s not all doom and gloom and within Technology Resourcing we’re certainly projecting further improvements in Q4. For the last few months, many clients have been talking about project activity increasing from September onwards and we’re already seeing signs that this is the case. Certainly, the conversations are now more upbeat than they were 6 months ago.

So are we coming out of recession, maybe, although probably not as quick as Mr Darling would like. One thing’s for sure, the general mood is certainly better than it has been for some time. Let’s keep it that way!