REC Responds to GDP Figures

 

Commenting on today’s publication of Gross Domestic Product (GDP) figures by the Office for National Statistics (ONS), which estimates that GDP increased by 0.5% July – September 2016, Recruitment & Employment Confederation Chief Executive Kevin Green says:

 

“Today’s GDP figures show that so far the economy has been broadly unaffected by the EU referendum result. This confirm the trends we have seen in the REC’s monthly jobs data, with employers maintaining a ‘business-as-usual’ attitude. Encouragingly, our latest JobsOutlook report shows that almost a quarter of employers plan to take on permanent staff in the next three months.

 

“It is still unclear what the long term impact of the vote will be and there are question marks around the sustainability of positive trends we have seen since the referendum. Our data shows that employer confidence in the economy has fallen since June, so there are some anxieties about what the future holds.  

 

“We hope next month’s Autumn Statement will bring fiscal stimulus designed to bolster the jobs market and improve confidence in the economy.”

 

Ends

 

Notes to editors: 

 

1. For more information, contact the REC Press Office on 0207 009 2157/2192 or pressoffice@rec.uk.com. An ISDN line is available for interviews on 0207 021 0584
   
   
2. Full GDP data available at: https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/grossdomesticproductpreliminaryestimate/julytosept2016
   
   
3. REC’s JobsOutlook October 2016 report shows: 23 per cent of employers plan to take on more permanent staff in the next three months. 25-five per cent of employers surveyed in July - September think UK economic conditions are improving; this compares to 48 per cent that cited improving conditions before the EU referendum (survey period March - May). https://www.rec.uk.com/news-and-policy/press-releases/one-in-four-businesses-hiring-despite-reduced-confidence
   
   
4. Jobs transform lives, which is why we are building the best recruitment industry in the world. As the professional body for recruitment we’re determined to make businesses more successful by helping them secure the people they need. We are absolutely passionate and totally committed in this pursuit for recruiters, employers, and the people they hire. Find out more about the Recruitment & Employment Confederation at www.rec.uk.com