Property Personnel points to positive markers in the UK jobs market
The UK’s oldest estate agent recruitment consultancy says that the UK job market is looking surprisingly resilient in the wake of the Brexit vote.
In addition, the company says the recruitment sector should be encouraged by a positive outlook from major property companies, as well as several big investment schemes announced in recent weeks.
Property Personnel Managing Director Anthony Hesse said: “Rightmove has said it does not expect to see a Brexit-induced slowdown in its business, and profits are up at Taylor Wimpey, which has reported ‘no meaningful change to date’ in its house sales. Not only did the economy grow faster than predicted before the referendum, but some 10,000 jobs have been announced in the UK since the country decided to leave the EU.
“Only recently, we heard that nearly 3,000 jobs will be secured by the UK’s biggest pharmaceuticals company, GlaxoSmithKline; McDonald’s has said that 5,000 jobs will be created by its plans to overhaul restaurants and introduce table service; and London City Airport have announced the creation of 1,600 jobs, with a further 500 in construction, following a £344m expansion plan.
“These are all big players, clearly confident enough to invest in UK plc at the moment, making assured votes of confidence in Britain. Estate agents should take heart from their lead and follow suit.”
But Anthony Hesse also warned that there was a very real danger of pessimistic pundits talking the country into recession.
He explained: “Of course there are very real threats out there. But there are fantastic opportunities too. The economy will inevitably be hit as a result of the Brexit vote – but the question is over the scale of the impact and how quickly growth will bounce back. The good news is that the National Association of Estate Agents reports that the Brexit vote did not affect the number of house sales in June, with housing market confidence expected to return to pre-Brexit levels.”
“However, if people stop hiring because confidence has ebbed away, then recession becomes a self-fulfilling prophecy. Even if bosses see their own companies doing OK, they may be influenced by a broader reaction which leads them to be more cautious.
“The truth is that our skilled workforce and low corporate tax rate ensure Britain remains an attractive place to do business.”
Breaking News shared by Property Publicity – Eric Dixon eric@propertypublicity.co.uk
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Breaking Property News – 16/04/24
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