Retail recruitment to reach 15-year peak
With just over a third of retailers having increased staff numbers this year and sales volume growth above expectations, the recruitment rate is expected to reach its highest level for 15 years.
A survey by the CBI Quarterly Distributes Trades survey found that 36% of businesses raised their headcount from January to August this year, compared to just 20% that had said it had fallen. The significance of +16% is the highest for just under two years (November 2013)
And the good news is there is no sign of slowing down with jobs expected to increase at a quicker pace in the year to September, with predictions showing a rate of +22%, which would represent the highest rate since 2000.
Meanwhile, Internet sales growth accelerated in August, but remained below its long-term average, with a slightly stronger performance expected next month.
Average retail selling prices fell on a year ago (-7%), from +11% in the previous quarter.
Says Adam Michaelson at Charles McKenzie Associates: “Retail growth is continuing at a steady pace and we have certainly felt the impact of firms’ investment intentions picking up alongside more jobs being created. This coupled with firm household spending does give an upbeat outlook for the sector.”
“The good news for job searchers is this is only likely to continue to increase as we enter the final quarter of the year with the influx of seasonal job opportunities showing no signs of abating. However, as is there nature, they are quick to be taken up so it would be wise for seekers to apply quickly and take advantage of the positivity in the market.”