UK employment levels on the rise as economic conditions improve
(2 minutes to read)
Recent findings from Lloyds Bank Regional Purchasing Managers Index (PMI), has revealed that employment levels rose once again during June.
Umbrella company contractors might be interested to learn that latest figures show manufacturers and service providers experienced a strong end to the second quarter of 2014, with job creation and higher levels of business activity driven by stronger customer spending patterns in June.
According to the Lloyds Bank Regional PMI, UK businesses said improving economic conditions was a key reason for their growth, combined with greater optimism in consumer spending and the wider economic outlook.
Some firms also reported greater levels of construction-related demand, particularly from the housing sector, helped to boost business activity.
With regards to regional analysis, companies across the North East (64.8) saw the strongest output expansion, followed by those based in the South West (59.4).
In Wales, the business activity index picked up from the four-month low seen in May (58.2) to reach 59.3 in June.
Tim Hinton, Managing Director, SME & Mid Markets Banking, Lloyds Banking Group, said, “June’s survey rounds off a strong second quarter for both manufacturing and services companies with robust improvements in overall business conditions and an encouraging rise in employment levels.
“Efforts to boost capacity and investment spending indicate that businesses are increasingly confident that economic conditions will continue to improve in the second half of the year.”
Lisa Keeble is the Managing Director for Contractor Umbrella Ltd, one of the UK’s Most Respected Umbrella Companies and founder member of AllUmbrellaCompaniesAreEqual.
Learn more about Lisa on Google.
