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The latest Jobs Index published by recruitment firm Ashdown Group indicates that the number of human resources vacancies fell by -5.52% in June 2010 compared to May 2010, following a strong +10.06% increase during May.
With the HR recruitment market having expanded in four of the five previous months, it may simply be the case that the rate of growth could not be sustained.
However, the economic uncertainty brought about by Chancellor George Osborne's emergency Budget, both in terms of the lead up to it and the austerity measures announced, may well have hit employers' hiring intentions.
IT recruitment fell by -3.79% and marketing by 11.31%, with only accountancy (+4.34 per cent) seeing vacancy levels rise.
John Lynes, Director of the Ashdown Group, said "most of the losses have been in the public sector. It has been suggested that these losses will be absorbed by the private sector. Any faltering in the private sector, however, will stifle any such hopes."
"HR hiring has historically been particularly sensitive to changes in business confidence. At this time, it is difficult to predict the level of demand for HR personnel, as a trend has yet to emerge."
Overall, the jobs market looks far healthier than 12 months ago, and with most economic commentators predicting increased gross domestic product for the remainder of 2010, new opportunities should continue to emerge.
"We are now entering a typically quiet time for hiring as the holiday season approaches and this is likely to have a negative effect on the number of vacancies being advertised for the next few months," Mr Lynes added.
"September will be the soonest we will be able to establish whether a new hiring trend is emerging."