UK job market weakening rapidly
The UK job market weakened rapidly in November as permanent placements
declined at a record rate, a new survey from Markit Economics suggests.
The drop in permanent and temporary jobs was faster than at any point in
the survey's 11-year history.
The figures provide evidence of the rapid slowdown in the UK economy and
suggest unemployment rates will rise.
"The UK jobs market is heading downhill at breakneck speed," said Mike
Stevens at KPMG, a sponsor of the survey.
The report also showed record survey falls in permanent salaries and
temporary staff pay rates.
"Employers in almost all sectors have drastically cut recruitment plans
and are shedding contract and temporary staff as fast as they can," Mr
Stevens added.
Permanent placements declined for an eighth consecutive month in
November, with the rate of contraction accelerating to a new survey
record.
Temporary and contract staff billings also fell by record levels, as did
demand for permanent and temporary staff.
The only sector to avoid the downturn was nursing and medical care.
Unsurprisingly, record rises in staff availability were also recorded.
The monthly survey, sponsored by the Recruitment and Employment
Federation and accountancy firm KPMG, features original data collected
by Markit Economics from 400 UK recruitment and employment
consultancies.
Story from BBC NEWS:
http://news.
Published: 2008/12/03 01:10:45 GMT
Wednesday, 3 December 2008
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