Jobs Report highlights a deterioration in labour market conditions, driven by sharply reduced demand.
Labour market conditions continued to deteriorate as the poor economic climate and reduced company activity levels led to another substantial decline in demand for staff. Vacancies fell at a pace that marginally exceeded January’s previous record. In line with the trend seen in recent months, only the Nursing/Medical/Care sector bucked the overall trend of sharply falling demand for staff.
Key points include:
* Permanent placements and temp billings fell at near-record rates
* Vacancies contracted at the fastest pace in the survey history
* Series record reductions in permanent salaries and temp pay
Kevin Green, Chief Executive of the REC, said: "It is clear that we have not yet hit the bottom of the jobs market with demand for staff continuing to contract. Every job must be seen as an opportunity to keep people in work, including temporary, interim and contract positions."
He continues: "It is essential that we avoid any additional regulation that would simply act as a disincentive for employers to offer these kind of flexible working arrangements to job-seekers at such a crucial time. Although demand for temporary staff is down and despite recent high-profile examples of assignments being terminated, there are still over a million temporary and interim assignments available every week."
