The demand for payroll services will grow claims the small business employers.
Following the news last month that unemployment has risen by 25,000 to 1.85 million during the period April to June 2015, but was down by 221,000 for the same period in 2014, John Allan, FSB National Chairman, was quoted as saying “Although unemployment is marginally up again this month – the wider long term trend is of a strong performing labour market, with high employment rates and low levels of economic inactivity.”
This is backed up with continuing good news on pay, up by 2.8% this month. With interest rates flat and recent improvements in productivity, employers are feeling better placed to share the gains of economic growth in the form of higher wages.
Mr Allan continued “Our latest small business index recorded the strongest small business hiring intentions since the index started in 2010. With a net balance of 14 per cent of our members planning to take on more employees over the next three months, we would expect unemployment levels to start to fall again in the autumn.”
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