Demand for jobs is slowing, says index

08-02-2008

Demand for jobs is slowing, says index
January was a slow month for employment growth, the latest Report on Jobs has revealed.

Pay growth weakened, as did the need for staff, the research by big four firm KPMG and the Recruitment and Employment Confederation discovered.

However, director at KPMG Alan Nolan stated that despite the uncertain jobs market, employers are remaining optimistic about the next 12 months.

"Many companies are planning to take on an increased number of graduates this year," he said, noting that although demand slowed, growth was still evident in the labour market.

"Different sectors carry on being affected in different ways. Whilst workers in the construction industry remain in demand, investment banks are seeing a reduction in graduate salaries in a bid to level out the playing field," Mr Nolan remarked.

Further reductions to the base rate by the Bank of England could also be made, Mr Nolan suggested, following yesterday's news that the rate has been trimmed by 0.25 per cent to 5.25 per cent.

Related categories: HR / Recruitment.


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