Although demand within the service sector appears to have slowed down in the last three months, the jobs market remains in a relatively robust position, according to a new report.
The latest Confederation of British Industry (CBI) and Grant Thornton Service Sector survey found that businesses remain in "good health" and continue to create new jobs.
Noting a "strong pick-up" in the number of people employed in the consumer services sector, the report stated that firms plan to increase their spending on training next year.
However, Ian McCafferty, chief economic advisor at the CBI, said that firms within the consumer services sector are "finding life increasingly difficult".
"Although there is little sign that the credit crunch is having the same effect on business services companies, these firms' expectations for the coming months are unspectacular," he remarked.
In related news, Fionnuala Earley, chief economist at Nationwide, recently suggested that "uncertainty" over the impact of the recent credit crunch may have begun to affect people's feelings about jobs and the wider economy.
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