Partner Article

2014 - It’s looking much brighter…

Industry has taken a bit of a battering of late and as such the jobs market has suffered too. But by all accounts things are definitely looking up so what are the prospects for the North East job market in 2014?

Things are definitely looking brighter. As things stand at the moment, the answer is surprisingly good. Increased confidence in the current early stages of recovery does appear to be translating into new jobs. A survey carried out by the CBI (Confederation of British Industry) suggests that 51% of UK firms plan to hire more staff in the coming year.

According to the region’s largest business membership organisation The North East Chamber of Commerce (NECC), firms here in the North East are also ready to spearhead a resurgent regional economy in 2014.

The NECC 2014 Manifesto sets out the organisation’s key lobbying priorities to empower business, stimulate growth, create jobs and help the North East become an international gateway for industry.

It has pledged to continue championing the North East as a place to live, work and invest and is calling on the Government to back regional business ambition to drive the economy forward.

So we can hope to see job creation and we can also expect to see a shift in the types of jobs on offer.

For the past five years, many companies have struggled to justify recruiting permanent staff and have instead relied on temporary recruits to swell their ranks.

CBI’s January labour market data shows that the market is recovering strongly from recession. Employment rose at it fastest pace since records began in 1971 and there were 280,000 more people in employment in the three months to November, meaning the total number of people in employment now stands at 30.2 million.

Out of these 222,000 found full-time work showing that the recovery in employment is now firmly becoming a full-time recovery.

Our experience over the past two years fully supports these figures. We have seen more and more technically-skilled candidates alongside an increase in permanent recruitment activity across the pharmaceutical, chemical, life science and high technology sectors, among others - positive reading for any North East job hunters out there.

So hopefully that’s new, permanent full-time jobs on the agenda but obviously some sectors will emerge stronger than others. Which industries hold the most hope for 2014?

The healthcare and life science industry continues to be one of the key sectors for local economic growth in 2014.

The North East already has a thriving healthcare economy which is worth £4bn and employs 172,000 people thanks to global businesses such as GlaxoSmithKline, Fujifilm Diosynth Technologies and Procter and Gamble. Marry those up with five leading universities in the region creating innovative start ups such as Newcastle University spin-out Geneius Laboratories, and you have an industry which offers huge opportunities for job seekers.

As we speak we are recruiting for leading companies such as The Specials Laboratory, Johnson Matthey and Leica Biosystems. This demonstrates that the sector and companies in it are doing well, confidence is high, and they are driving through business growth by employing new staff.

Another strong performer is technology. Within the science and engineering arm sits emerging technologies which enable something to be done that was previously not possible, or was possible only in theory. This can lead to new products and services being adopted by existing industries, or may result in new industries. Emerging sectors such as this one are the key to the UK’s future as an innovative and engineering nation.

The North East has gone through a ‘period of transition’ which has helped foster private enterprise and job creation in the long run.

Whilst it’s great that jobs are created, stronger job creation is needed throughout the region. We need more well-paid jobs, as well as better wage rises for those already in work, to increase employee motivation and confidence and also improve staff retention.

This was posted in Bdaily's Members' News section by CY Partners .