Sachin Ruparelia’s Post

Some promising news for professionals and job seekers alike! According to the latest report from the independent Office for Budget Responsibility (OBR), the UK's recession, which witnessed a contraction in growth during the latter half of last year, is officially over. But wait, it gets better! The forecast indicates that not only is the recession behind us, but the trajectory ahead looks incredibly promising. Instead of facing stagnation or a sluggish recovery, the OBR predicts a robust growth trend for the UK economy. By the end of this year, we can anticipate growth rates surpassing expectations and continuing to soar through 2025, 2026, and 2027. This means exciting opportunities lie ahead for businesses, professionals, and job seekers as the job market is set to improve undeniably. Are you ready to seize the opportunities this optimistic forecast presents? #EconomicGrowth #JobMarketOptimism #OpportunityKnocks

UK Economy Continues Recovery with 0.6% Growth Great news for the UK economy. We've seen a 0.6% growth this past quarter, marking two consecutive quarters of recovery. After the recession last year, it's clear we're on a much-needed upward trajectory. At Harper Evans Recruitment, we're witnessing first-hand how this economic recovery is influencing job opportunities, especially in the manufacturing sector. We're dedicated to connecting top talent with companies ready to expand and thrive in this growing market. Whether you're a business in Hampshire seeking skilled professionals or an individual ready to take the next step in your career, we're here to help. #UKEconomy #Recruitment #Growth

Great to see that the UK economy has grown by 0.6% in Quarter 2, given it was not that long ago we were moving deeper into a recession. Let’s hope that with continued positive data, setting aside the small increase in inflation that we will continue to progress on a positive trajectory. I still feel the MPC will hold the base rate at their next meeting but it does bode well for a further cut towards the back end of this year. What’s the general mood out there? are you feeling positive about your particular sectors or are we still feeling that we may slip backwards?

📈 Exciting news for the UK economy! 📈 According to recent reports, the UK economy is poised for a strong performance in 2024, outpacing its global rivals. With prospects looking rosy, this is fantastic news for businesses and individuals alike. Amidst the challenges of recent times, it's uplifting to see the resilience and potential of the UK economy shining through. As we look ahead, let's harness this momentum to drive growth, innovation, and prosperity. 🤞 💪 🙏 At ESK, we're excited about the opportunities this presents for our clients and partners. Whether you're navigating recruitment needs, exploring new ventures, or seeking sales growth strategies, we're here to support you every step of the way. #UKEconomy #EconomicOutlook #Prosperity #GrowthOpportunities #BusinessSuccess #eskrecruitment https://lnkd.in/eT9X5kHZ

Fun to join #LBC this morning to discuss the prospect of recession given a prediction from Reed that job listings have plummeted since the NI rise. This goes against mainstream forecasts suggesting GDP will be around 1.5% next year. Frankly, whether the economy ticks slightly above or under the line matters much less than arresting the decade and a half long near flatlining of growth. The economy needs to be expanding by upwards of 2.5%. Also discussed the ongoing economic damage caused by Brexit and how being isolated makes Britain more vulnerable amid global uncertainty. We do need to have an evidence based national conversation about this.

I am talking to far too many amazing TA leaders who are having their budgets and teams slashed by trigger happy CFOs who are quick to cut budgets and implement recruitment freezes at the mere whiff of a recession - no matter how shallow. With more than 30 years recruitment leadership experience, I know that there is no such thing as a recruitment freeze (the recruitment just moves underground and becomes more costly and less controlled), and that the smart move is to invest in rather than divest from Talent Acquisition in any period of financial flux. Read the full article here to find out more: https://lnkd.in/e4rFHE-w

📈 A Turning Point as UK Wages Finally Surpass Inflation! For the first time in two years, UK workers are experiencing pay increases that outpace inflation, this is a welcome change that signals improved financial prospects! This shift not only boosts everyday living standards but also sets the stage for growth in the digital job market. As companies adapt to these changes, demand for tech talent and remote work expertise is likely to rise, driving innovation and competitiveness across industries. https://lnkd.in/e8CTVek8 #UKEconomy #Wages #Inflation #JobMarket #DigitalJobs #FinancialSecurity #Recruitment

So the UK is technically out of recession following stronger than predicted growth in Q1 2024. This is of course great news, but is anyone feeling better off? In truth the GDP (Gross Domestic Product) growth is the equivalent of a business stemming falling revenue and returning to growth, but having taken on more staff to achieve the growth. Being extra busy staff have an expectation of a pay rise, but actually your sales per employee has fallen, putting real pressure on any ability to pay more. Of course the growth is welcome, but to ensure you retain good staff there’s now a real need to increase productivity per employee, improving margins and enabling the payroll to grow without hitting retained profits. Could this be your business? You’ve identified the need to invest in equipment or systems, but as a typical SME you’re unable to gain the support of your bank to finance the investment? Please message me, call 07557 980473 or email [email protected] to discuss how using alternate lenders could unlock your business potential.

I’ve been sharing U.S. economy updates, but it’s also wise to keep our eyes on what’s happening in other markets. The UK economy is growing slightly, after a technical recession late last year. A recovery is on the horizon, with hiring looking like it’s about to pick up again. One issue that’s arisen from this downturn is that job applications are down. Most likely, this is due to job seekers being cautious, staying in their current jobs while waiting out economic uncertainty and a high cost of living. Learn more about what this means for staffing: https://lnkd.in/ePH--nYU #StaffingTrends #Economy #StaffingLeaders #HiringTrends #UK 

Empowering Recovery: Elevating the Role of Talent Acquisition . The UK is technically in recession as our economy has failed to grow for two successive quarters. In fact, our economy only grew by 0.1% during the whole of last year – the weakest annual growth figure since 2009 when the UK and other major economies were reeling from the global banking crisis.  That said, this recession is so shallow that it is probably more politically than economically significant. In fact, our economy appears to be in remarkably better shape than it was in 2009 with unemployment remaining consistently low, and inflation starting to slow down. In this climate of cautious optimism, amidst recalibrating organisational strategies and fiscal restraint, a new imperative emerges: Invest in, rather than divest from your talent acquisition function.    The Strategic Importance of Talent Acquisition  While economic downturns often trigger reflexive cost-cutting measures and recruitment freezes, visionary leaders understand that investing in Talent Acquisition and the strategic pursuit of identifying and attracting exceptional individuals to an organisation will yield strategic advantages.   To read the full article click on the link in the comments. #economicrecovery #economicgrowth #talentacquisition #CoActiveAssessment #adversity #forwardthinking #savvy