Recruitment Industry Trends 2008/09

Annual Recruitment Trends Survey shows sharp dip in industry turnover 

Turnover in the UK’s recruitment industry has fallen by nearly 17 per cent in the past year, according to the latest annual industry report launched today (Tuesday November 3) by the Recruitment and Employment Confederation (REC) in association with the Recruitment Finance Division of Lloyds TSB Commercial. 

The Recruitment Trends Survey 2008/9 shows that contraction of the industry has resulted in the annual turnover dropping from a record high of £27 billion last year to an unprecedented low of £22.491 billion between April 2008 and March 2009.  

Most significant of the downward turnover trends has been in permanent placements turnover which shrunk 39 per cent from £4.275 billion in 2007/08 to £2.608 billion last year. At the same time, the temp business turnover took a tumble from £22.730 billion in 2007/08 to £19.882 this year, a decrease of 12.60 per cent.