potential impact of public sector cuts we expect to see a return to
growth in the next year
Turnover in the UK’s recruitment industry fell
by more than 12 per cent in the years to march 2010, according to
the annual industry report published by the Recruitment and
Employment Confederation. Despite this the report did show that the
recruitment industry still has sales of just under £20bn.
In April 2009 annual turnover was seen to fall
to £19.7bn, compared to £22.49bn last year. The impact of the
downturn in the UK however has been less than that of North America
or other EU states which have seen contractions of between 20-35
per cent. Over the last 6 months the recent REC/KPMG report has
shown growth in demand for staff over the last 6 months, which is
reflected in the UK listed recruiters returns to growth for the
second half of 2010.
REC chief executive Kevin Green
said "This has been a tough climate for those on the front
line of the UK’s fragile jobs market. However, we believe that the
majority of the contraction happened in the first half of the 09/10
period. The historical data released must be weighed against the
more recent monthly jobs data which shows increasing hiring
activity in many sectors.
"Recruitment is a resilient and
entrepreneurial industry, achieving a £20billion turnover even
during the longest and deepest recession since records began.
Despite the potential impact of public sector cuts we expect to see
a return to growth in next year’s report and look forward to seeing
the industry bounce back”
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