Boost for drivers, but bad news for rest

BY SIMON READ JOBHUNTERS face an uncertain future as bosses’ confidence hit a five-year low.

The Manpower Employment Outlook Survey asks employers whether they will be hiring extra staff or shrinking their workforce in the next three months.

Brexit uncertainty means the latest survey, published today, has fallen to just +4 per cent as employers fear a gloomy 2018.

James Hick, managing director of ManpowerGroup Solutions, said: “The national outlook hasn’t dipped below +5 per cent since the final quarter of 2012 – when we were still trying to fight our way out of the recession.”

Now he says there’s been a “gradual erosion of confidence” across the business community, with bosses hoping for some clarity over Brexit but getting none.

Prospects in London are looking particularly bleak. In the capital, the employment outlook has slumped three percentage points to 0 per cent.

But there has been an increase in confidence in the logistics sector, which means there is likely to be more work than ever for drivers.

Brexit fears have actually boosted the transport sector by 10 points, to +12 per cent, as employers “stockpile” permanent employees to avoid the pressure of an exodus.

“Transport businesses are reliant on EU workers, so they’re boosting recruitment as they’re facing a double-whammy of problems. Not only do they have to cope with an ageing workforce, but they are having to face up to the fact that with Brexit in the offing, drivers are not so keen to come from Europe to support them,” said Hick.

He pointed out that online purchases account for £2 in every £5 of spending over the festive period, “so the role of the transport sector is ever-more important”.

Hick said British businesses are resilient enough to survive the Brexit blow but warned “our competition in other countries are making hay while we’re marking time, which adds to the pressure”. Oil RSA RBS J Sainsbury SSE Severn Trent Serco Sports Direct Shell Sky Smith & Nephew Smiths WH Stagecoach 598.5 280.7 244.7 1319.0 2085.0 93.9 391.0 2412.5 1000.0 1306.0 2210.0 171.5 -2.0 -0.3 0.0 -5.0 +2.0 +2.3 +1.3 +27.5 +7.0 -18.0 -8.0 +1.5 HSBC have escaped prosecution for money laundering. The bank had been accused of processing hundreds of millions for Mexican drug barons.

An American investigation said the bank had been a conduit for “drug kingpins and rogue nations”. HSBC admitted they had poor controls and apologised.

They signed a Deferred Prosecution Agreement (DPA) with the US Department of Justice in 2012 to avoid criminal charges. But they also paid a record £1.42billion settlement. The bank said the DPA has now expired, meaning they are no longer under threat of prosecution.

“HSBC are able to combat financial crime more effectively today,” said boss Stuart Gulliver.