Workplace confidence is on a positive trend, YouGov and CEBR figures suggest

The number of employees who’ve received pay rises, bonuses and promotions has increased over the past year, with fewer people being laid off and more starting new jobs, new figures supplied by YouGov and the Centre for Economics and Business Research have revealed.

The report points out that 45 per cent of people have received a promotion, pay rise or bonus over the past year and there has also been a three percentage point year-on-year improvement in the number of people starting new jobs in the last 12 months.

The increasing confidence in the labour market as shown by improved rewards and prospects comes as fewer businesses are making people redundant, the latest figures showing that this trend has declined to 23 per cent in May 2014.

It’s also interesting to note that the YouGov/Cebr Consumer Confidence Index is at 113.9, its highest level since July 2007. Over the past month it has increased by +0.9 points and over the last year it has risen by +12.7 points, according to a news source.

Stephen Harmston, Head of Syndicated Research at YouGov: “Over the course of the long recession and slow recovery consumer confidence has been somewhat fickle. However, the improvement in the labour market suggests that economic optimism is starting to reach workers as well as consumers; it is clear that this recovery has legs. The economy is now safely approaching escape velocity and over the course of the summer consumer confidence will surge past its pre-recession peak, which is good news for the Government ahead of next year’s general election.”

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