UK employers' hiring plans lift off 18-month low - Survey

Dhwani Mehta FXStreet

The latest survey conducted by the Chartered Institute of Personnel and Development (CIPD) showed on Monday, the British employers’ hiring plans have risen from an 18-month low.

Key Points:

“Quarterly net employment balance rose to +22 from +18, bringing it back in line with its average over the past year.

CIPD economist Jon Boys said: “Despite the political uncertainty, employers have held their nerve and adopted a ‘business as usual’ approach to their hiring needs.”

the CIPD said some of its members, who mostly work at large public and private-sector employers, were benefiting from higher spending on public services.

But the outlook for wages was more muted and the CIPD warned that weak productivity growth was likely to put the brakes on private-sector pay rises.

Employers’ average expectation for future pay settlements was unchanged at 2% in the three months to September. Private-sector employers cut their expectations to 2.2% from 2.5%, while public-sector expectations rose to 2.0% from 1.5%.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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