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November 3, 2010    

Job market growth continues to weaken

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by Kay Murchie

A report by the Recruitment and Employment Confederation (REC) and KPMG has raised further fears over the strength of the UK job market.

The survey of 400 recruitment consultancies showed job appointments grew at their slowest rate in 14 months in October.

The permanent staff placements index dipped to 52.6 in October from 54.6 the previous month, with the fall being attributed to employers’ reluctance to hire staff due to Government spending cuts.

Meanwhile, the temporary staff index was the weakest for 12 months, with the index falling from 52.8 to 51.6 last month.

However, both indices remain over the crucial 50 level, which indicates growth, but the readings are way below the highs of 65 reported earlier in the year.

The REC’s Kevin Green said the figures suggest that “employer confidence remains fragile.”

Meanwhile, Bernard Brown, a partner at accountants KPMG, added that companies in the public sector are introducing recruitment freezes, while the private sector is not creating enough new positions to “offset” this.

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Tags: , job market, , permanent staff, REC, Recruitment and Employment Confederation, temporary staff,