Bloomberg News

U.K. Job Growth Accelerates on Insurers, Engineers, Survey Shows

July 03, 2011

July 4 (Bloomberg) -- U.K. employment creation accelerated in June as insurance and engineering companies increased hiring, according to employment website Reed.co.uk.

The Reed Job Index rose to 125 from 121 in May, the London- based recruitment company said in a report published today. A gauge of salaries was unchanged, said Reed, which runs Britain’s largest recruitment website.

“Demand for skilled, highly qualified staff has fueled this month’s increase,” Reed.co.uk Managing Director Martin Warnes said. “In spite of residual concerns over the economy, opportunities for jobseekers are growing again as employers look for the talent they need to support their ambitions.”

A separate report by Lloyds Bank Corporate Markets showed a job-security index was unchanged at minus 21. Thirteen percent of employed respondents in a survey of 2,000 consumers between June 17 and June 26 said they felt there had been an improvement in job security, while 34 percent said there had been a deterioration, said the unit of Lloyds Banking Group Plc.

Britons think inflation, which stayed at 4.5 percent in May, the highest level since October 2008 and more than double the Bank of England’s target, will probably accelerate to 5.5 percent by June next year, according to the survey.

--Editors: Andrew Atkinson, Eddie Buckle

To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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