Pang Sen Macro: UK employment report shows hiring intentions rebound

Penson Economic Research economist Elliott Jordan-Dock pointed out in a report that the employment report released by the UK Recruitment and Employment Confederation showed an improvement in hiring intentions in January. The report's index of permanent placements hit an 18-month high that month. He said, "With policy uncertainty easing and economic activity picking up after the budget, recruitment activity is rebounding." The accelerated economic growth this year may also boost labor demand, further tightening the job market and supporting wage growth. Jordan-Dock said, "We are encouraged by the recent improvement in data and believe that hiring intentions will strengthen further in the first quarter as economic growth picks up."