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's
here.