Recruitment recovery with a blip not dip.

Posted on October 20, 2009 by

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This week Google announced they are showing signs of recovery. They had their best quarter since recession hit.

The announcement was unfortunate timing for Allthetopbananas.com as it somewhat overshadowed our press release that the recruitment market is seeing recovery. We see more than one third of all UK jobs go through our website, and this places us in an ideal position to analyse the market place. So we did. And what did we find…

First let’s set the picture – we are clearly still well behind the market size before recession hit. So far looking at job counts from the same leading job boards for 08 vs 09 the industry is 48% down in volume. This is not really a shock.

The good news is, we are climbing the wall of recovery. The volume of jobs in September 2008 compared to July 2008 saw the typical 3% growth. This year September 2009 compared to July 2009 shows 13% growth. This illustrates good signs of upturn. I am not saying the economy is saved, what I am saying is the recruitment market place is getting busier, which is a good thing for everyone!

Every day I read something about the scare of a double dip! The cause of crisis changes weekly from more sub prime disaster to space rocks crashing into the moon- well I made the last one up. The point is it has been tough, business leaders are worried and media sells on worries! The mix is dangerous, it creates panic attack style reports, all selling an unhappy 2010.

So what will happen? I believe it will be a reasonably slow recovery, but one that mainly stays on track in an upwards direction. I don’t think a double dip will happen, but I expect a blip to occur causing a small dent in recovery. Assuming a blip does not panic leaders to make rash decisions we will overcome it successfully, if not it will turn into a dip. The blip has to happen, at some stage the base interest rate must increase, which will cause ripples.

We will be posting figures every month to help the industry monitor the progress. Being in recruitment provides us with a valuable insight into the market and as an industry, sharing these figures is important to help one another.

So keep an eye out for next month’s release, you can read this month’shere.

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