Sunday, July 8, 2012

The UK employment picture dims

The UK is now feeling the full impact of the Eurozone recession. The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs, a leading indicator for the employment market in the UK is showing a rapid decline in placements - the worst since 2009.
Kevin Green (REC): - "The sharp drop in the number of people placed into work last month is really disappointing. A decrease in hiring activity means we could see a period of increased unemployment, especially as a new wave of school leavers and graduates will be entering the labour market over the summer.
Source: KPMG
FT: - The data suggest unemployment may shortly start to rise, partially resolving the puzzle whereby the jobless total has recently been falling despite the UK being officially in a double-dip recession.

Bernard Brown, head of business services at KPMG, said if the acceleration of the hiring decline continued, there was a “very real chance” of unemployment, currently 2.61m, reaching 3m “in the not too distant future”.
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