“Mark Carney’s promise of a possible rise in interest rates seems to be edging closer to a probable one, with the latest figures depicting a labour market that continues to outperform the wider economy. All the evidence seems to be suggesting that recruitment is buoyant across the country and if local economies are doing well the hope must be that economic recovery need not be dependent on a single area or sector.
“Yet, with house prices increasing and inflation stubbornly remaining at 2.7 percent, prices are still rising faster than wages. It presents a very real problem for employers because they now face the conundrum of trying to attract the best people without always being able to afford to pay market rates. If this situation continues it is entirely possible that disillusioned job hunters will stop their search bringing the recent rise in employment to a halt.”
Mike Petrook, KPMG Press Office
020 7311 5271 (t), 07917 384 576 (m) or firstname.lastname@example.org
Notes to Editors:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.