Employment rate decline slows
Commercial insurance
9th June 2009
The decline in employment rates slowed last month and "there are some opportunities" in jobs markets despite the recession, an expert has suggested.
According to Tom Hadley, director of external affairs at the Recruitment and Employment Confederation (REC), the easing in the rate at which demand is slowing "is a good start".
However, he warned that it may be a "precursor to hitting the bottom" and it is currently "quite competitive to get jobs", a fact that may interest insurance for business customers.
"There is a way to go, it's quite a tight jobs market, but what this report does show is that there is recruitment activity happening," Mr Hadley explained.
The latest REC and KPMG Report on Jobs indicated that the number of recruiters reporting an increased or stable demand for permanent employment in May fell at the weakest rate in ten months, while the rate of decline for temporary jobs also slowed.
Data from the Office for National Statistics showed that the unemployment rate was 7.1 per cent for the quarter to March 2009, a 1.8 per cent year-on-year increase.
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