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Employment growth rate falls
News Article Published:
Wednesday, 12 December 2007 Category:
Reports
Employment growth in the UK is set to slump to its slowest rate in six years, according to a new report.
The research, by recruitment firm Manpower, revealed that employers are hiring the least in the finance sector, providing bad news for students looking for graduate finance jobs.
Mark Cahill, managing director at Manpower UK, said "People are a bit concerned with what they are seeing from the financial market and the outlook of the economy. Most people are still looking to employ more people. It's just not as high or as optimistic as it has been."
With the fall in recruitment blamed on the recent credit crunch, firms are also beginning to cut jobs. The Bank of America will be shedding 3,000 jobs due to the economic climate.
Meanwhile, a report by the statistics commission has revealed that an estimated 80 per cent of jobs in the UK that have been filled in the last ten years have gone to migrant workers.
