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Europe’s economic problems have impacted staffing markets across the region and now even the more robust Swedish recruitment industry is showing signs of a downturn. Sales in the staffing industry during the third quarter of the year declined by -2% year-on-year.
This is according to the latest findings by Swedish Staffing Agencies, the employer and trade federation for recruiters in the country. The director of the association, Henrik Bäckström, said that the deterioration was “not too bad” as it compares to a strong quarter last year.
But the fourth quarter might paint a different picture. The downturn of the economy has started after the third quarter had finished, he warned. This comes after Staffing Industry Analysts earlier this year downgraded its 2012 market forecast for Sweden to an annual growth rate of 5%.
In Northern Sweden, sales were up strongly by +10%, however, in Southern Sweden this number deteriorated by -9% year-on-year. In the capital Stockholm, the largest area in terms of turnover, sales fell by -2%.
A number of sectors defied slowing activities in the market. Industrial and manufacturing proved to be a fruitful industry with sales increasing by a quarter. This was followed by warehouse/logistics, office/administration, as well as accounting and finance.
The figures reflect data from the 35 largest member firms, which account for 85% of the turnover in the Swedish recruitment market.