Jobs rise 'fastest for 31 months' - report

YORKSHIRE and Humber levels of employment have risen at the fastest rate for over two years, new figures from Lloyds TSB have revealed.

Despite the gloomy economic conditions and worrying predictions for the future, the rate at which companies increased their workforces in November was the highest since April 2008.

But output levels have fallen despite new orders growing.

The banks's monthly PMI (Purchasing Managers' Indexes) figures show the ebb and flow of the economy across the country.

The data shows that the percentage of firms questioned which have increased their workforce has increased since September following a lull in the spring, with sudden increases in employment in October and November. The number of firms showing staff decreases fell dramatically from October to November.

The report says: "This (November] was the sixth consecutive month of job creation.

"Moreover, the rate of increase quickened to the fastest since April 2008.

"Jobs growth was driven by a robust expansion in the manufacturing sector."

The rate of job creation in Yorkshire and Humber was faster than in the UK overall. But output has shown a slight decrease in November from October, and has been on a general downward trajectory since April.

But the report says: "New orders grew at a broadly similar rate to that seen in October.

"Anecdotal evidence suggested that sales increased as demand grew from both domestic and international markets.

"However, private sector firms suggested that clients, particularly from the Eurozone, remained cautious about the economic outlook."

The report shows that output prices have risen since August prior to which they had been decreasing with input prices showing the same trend over the same period.

Overall in the UK as a whole input prices have risen by a lower proportion but output prices have risen by more than in Yorkshire and Humber.

The report says that output growth has been highest in the East Midlands and the West Midlands, and lowest in Northern Ireland and Scotland.

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