Labour market growth 'in decline'
9 January 2008 17:54
Britain's labour market has hit a new low, it has been claimed.
Information released in a report for KPMG, in partnership with the Recruitment and Employment Confederation (REC) has found that labour market growth has reached a low not seen for two years.
"Despite demand for staff slowing, and much speculation that the credit crunch is already having an adverse effect on the jobs market, the recruitment industry remains reasonably upbeat about job prospects in 2008," said Helen Reynolds, acting chief executive of the REC, a trade organisation for the recruitment sector, in a report by the Times.
However, Alan Nolan, one of the directors of KPMG noted that speculation over the possibility of some redundancies is growing, in addition to there being a weakening in demand for both temporary and permanent staff.
Mr Nolan added that this decline, coupled with other factors, is making it more likely the UK will enter a period of recession.
Information released in a report for KPMG, in partnership with the Recruitment and Employment Confederation (REC) has found that labour market growth has reached a low not seen for two years.
"Despite demand for staff slowing, and much speculation that the credit crunch is already having an adverse effect on the jobs market, the recruitment industry remains reasonably upbeat about job prospects in 2008," said Helen Reynolds, acting chief executive of the REC, a trade organisation for the recruitment sector, in a report by the Times.
However, Alan Nolan, one of the directors of KPMG noted that speculation over the possibility of some redundancies is growing, in addition to there being a weakening in demand for both temporary and permanent staff.
Mr Nolan added that this decline, coupled with other factors, is making it more likely the UK will enter a period of recession.
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