City Backroom Recruitment Falls

A new announcement from Hays has shocked some in the employment industry. Employment in city bureaucracy is taking a serious hit. Recruitment has fallen by 20% in recent months and temporary employment has now become much more prominent. This is a switch that hasn't happened since the circumstances of the post-9/11 shock. This prominent London recruiter released this message alongside an announcement that they have cut their own staff by 5%.

Growth in recruitment has fallen significantly. It is now only experiencing a growth of 4% against the 11% growth seen in late 2007. This isn't just hitting city recruitment though. Similar decreases were observed in once booming sectors such as residential property and accounting. They have observed a decrease from 33% to 15% in growth concerning worldwide recruitment for permanent positions. It seems that more employers are looking for temps, as these placements increased from their 14% spot last year to 17% now.

The good news is that total group growth was able to increase by 20%, meaning that Hays will meet their target of £249m for the first half of the year.

Next news article: Unskilled Vacancies Drop