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Credit crunch hits staff recruitment
Wednesday, 14 May 2008
Graduate Job sector Reports
Low recruitment levels are the result of employers adopting a "wait and see" approach, according to the results of one study.
With staff demand at the lowest level witnessed in four years, research from the Chartered Institute of Personnel and Development (CIPD) has attributed the market down-turn to caution brought about by the currently unstable economic climate, as reported by Personnel Today.
Only 37 per cent of the 735 employers questioned in the latest quarterly CIPD Labour Market Outlook survey said they expected to have increased staff numbers between March and May 2008, down from 39 per cent in spring 2007.
CIPD chief economist, John Philpott, said conditions in the UK labour market were clearly "softer" than six months ago and softer than normal for this time of year.
On a bright note however, he also claimed that recruitment levels still exceeded redundancies.
"While the labour market is currently experiencing a period of relative slowdown, it is far from approaching a state of meltdown," he added.
Back in August 2007, the Association of Graduate Recruiters predicted graduate recruitment levels would remain steady in 2008.