Pound rises vs euro as new staff appointments rise

<p>The pound has made gains in trading with the euro as a key report shows employment is on the up.</p>

The pound has made ground in forex markets against the euro this morning (December 10th) after one key report revealed the volume of staff appointments grew in November.

According to the Recruitment and Employment Confederation (REC) and KPMG's Report on Jobs, new permanent places rose at their fastest pace in 19 months, with the month witnessing the strongest increase in temporary positions since March 2011.

The data shows a positive demand for new staff within the private sector, which is encouraging as this side of the marketplace is being relied upon by the government for offsetting weak public sector demand.

Furthermore, permanent staff wages continued their rise in November, with the rate of inflation being the sharpest for 12 months, while temporary employee pay also increased, albeit marginally.

REC chief executive Kevin Green commented: "Employer confidence is genuinely bouncing back with businesses feeling more encouraged to hire, which bodes well for the new year."

At 10:15 GMT, the pound rose by 0.1 per cent in trading with the euro to £1 buying €1.243.

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