Recruiting Sales Leaders in the UK Bulletin
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Recruiting in the UK Bulletin December 2018
Welcome to our December 2018 Recruiting in the UK Bulletin. This latest update indicates a continued demand for key sales and commercial skills in the UK, and we highlight some of the economic key trends leading commentators are predicting.
If you are looking to recruit experienced sales staff and sales leaders to enable you to exploit new or existing markets within the UK, Germany Europe or further afield, please call us for a no-obligation discussion.
Economic Commentary - what they are saying
The UK economy grew strongly in the third quarter according to recent figures, supported by private consumption, public spending and net exports. Moreover, real earnings growth accelerated notably, as the tight labour market fed wage pressures.
Employment growth, however, softened in quarter-on-quarter terms, possibly on rising Brexit uncertainty.
Looking to Q4, signs are less positive. In October, both the services and manufacturing PMIs fell, while annual retail sales growth slowed considerably and consumer sentiment worsened.
On the fiscal front, the government recently presented an expansionary budget, which should support growth next year thanks to higher spending and tax cuts. In mid-November, the UK and EU reached a preliminary agreement on Brexit withdrawal terms.
Its ratification would support business confidence and investment, although there are serious doubts over whether the UK parliament will give the green light to the deal as it currently stands.
UK inflation fell slightly, to 2.3% in November, driven mainly by a big fall in petrol prices, whereas wages have shown their fastest rise in almost a decade. According to monthly GDP data released by the Office for National Statistics (ONS), economic activity rose 0.1% in October over the prior month in seasonally-adjusted terms, up from September’s flat reading.
Industrial production decreased 0.6% in October over the prior month according to the Office for National Statistics,
Growth in the UK services sector declined notably in November, with the IHS Markit/CIPS UK services Purchasing Managers’ Index (PMI) dropping from 52.2 in October to 50.4, markedly undershooting analysts’ expectations.
As March 29 approaches, the UK seems to be finally seeing a narrowing of the different directions Brexit could take, allowing businesses to make more targeted contingency plans and potentially unlocking some of the investment that has stalled this year.
Despite weakness in the economy, recruitment difficulties remain at an elevated level. Brexit is seemingly quite likely to exacerbate the problem with fewer EU workers likely to be available. Retention and recruitment will continue to be a challenge for UK employers. A tight labour market should support earnings growth at around the current level.
***Compiled from various international news sources.
Disclaimer :The information included above is aggregated from various news sources and this document provides very basic and general information and should not be read as legal advice. The accuracy of the data cannot be verified. This is particularly so as each case hinges on its own merits