The Markit/CIPS Business Activity Index has shown a modest growth across the services sector. Back in August the Index stood at 51.3 but rose to 52.8 in September. This information alone could be viewed positively but actually growth has slowed down with quarter 3 showing the weakest rise since 2009’s second quarter.
Chris Williamson, Markit’s chief economist, stated that he believes that this subdued growth will continue in the months to come.
Andy Preston of energy recruiter BW Penman believes that the solution to this slow down could lie in the energy sector. This was said in response to the comments made by Oliver Letwin at the Tory party conference regarding the role of reducing carbon emissions and the building of a green economy in the growth of the UK economy overall. The figures in this sector, however, haven’t yet lived up to this promise with green sourced energy production dropping over the first two quarters of 2010. However, Preston has referenced the additional funding pledged by the government which he believes will lead to the creation of a significant number of new jobs in the sector.
However, it is not just about the energy sector, job opportunities are also on the rise in the financial sector. Financial recruitment specialist, Ambition, have reported a 260% increase in the number of city vacancies which they are recruiting for since the the first quarter of 2009. This has led to a three year high in the number of banking and financial services positions.
Finally, the REC’s latest Technology, Demand and Supply report has reported on an increase in the demand for IT staff. Contractors are experiencing an 11% increase in job opportunities while the increase in opportunities for permanent staff increased by 8 per cent.