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The UK jobs outlook is now at its lowest since 1994, according to a new industry study.

The Manpower Employment Outlook survey points to firms holding off from recruitment in the current economic uncertainty but not laying off staff either.

Sectors most hit by the were construction, the high street and finance – all particularly suffering from the credit crunch and rising inflation.

"The recent downturn is weighing on the minds of employers. They are not conducting widespread layoffs across all industry sectors, which is encouraging; yet, we are not seeing much appetite to add staff either," said Jeffrey Joerres, chairman of Manpower.

"Some key markets, such as the US, UK and Spain are clearly struggling to gain traction in the current downturn, while others, such as France and Germany, appear to be holding their own."

He added weaker job prospects in the finance and business services sector were most apparent in the UK, "where employers are reporting the weakest job prospects in this sector since 1999 and the least optimistic national forecast in 14 years".

Across the UK, London's employers were most upbeat about future recruitment, but gloom was noted in the south-east, Wales and Scotland.