HR · 25 October 2017

Unexpected economic growth mirrors jobs boom? across UK

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Motor trading helped the services sector lead economic growth in Q3
Britain’s economy grew more than expected in the three months to September 2017, following fresh labour market figures than indicated a boom in recruitment among confident UK businesses.

Overall, gross domestic product (GDP) increased by 0.4 per cent in the third quarter of 2017, after a 0.3 per cent increase in both the first and second quarters, data from the Office for National Statistics (ONS) has shown.

The services sector remained the largest contributor to GDP growth, with strong performance in retail, computer programming and motor trades.

Increased economic growth follows further research from CV-Library which revealed significant year-on-year growth in advertised positions in many UK cities. According to the job site’s figures, the country as a whole saw a 12.2 per cent rise in job vacancies in September, which some cities registering a rapid increase.

a strong workforce is a key driver for economic growth, and it’s clear that organisations across the nation are working to invest in growing their employee-base, said CV-Library founder Lee Biggins.

The top ten cities for jobs growth in September 2017

  1. Portsmouth 35.9 per cent
  2. Brighton 33.3 per cent
  3. London 25.8 per cent
  4. Bristol 22.5 per cent
  5. Sheffield 22.2 per cent
  6. Aberdeen 20.6 per cent
  7. Edinburgh 20.3 per cent
  8. Leeds 14.7 per cent
  9. Manchester 13.8 per cent
  10. Glasgow 12.5 per cent
Commenting on the rise of advertised positions, Biggins added that employers had responded positively to economic uncertainty throughout the year so far by upping their recruitment efforts.

these cities play an important part in our economy and it’s particularly great to see London back in the top ten given that confidence in the capital has dropped in recent months, he said.


 
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ABOUT THE EXPERT

Praseeda Nair is the editorial director of Business Advice, and its sister publication for growing businesses, Real Business. She's an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.

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