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03 November 2009
The Recruitment & Employment Confederation (REC) announced today an overall 17% fall in the size of combined UK temporary and permanent market. Based on research carried out for the REC by Cordoba Services the market size is estimated to be worth £22.49bn in 2008/9 down from £27.00bn the year before.
Permanent recruitment turnover fall by 40% from £4.276bn in 2007/8 to £2.609bn in 2008/0, while temporary /Contract turnover reduced 14% from £22.730bn to £19.882bn. Permanent recruitment volumes were down 20% from 726,863 to 582,803 and temporary/contact volume were 12% lower at 1,068,197 from 1,220,310 the year before. Direct employment as a consequence was also down 12% at 95,867 from 108,833 in 2007/8, with permanent only staff feeling the greatest impact down nearly 31%.
Copies of the survey are available from the REC, http://www.rec.uk.com/research or by calling Tracey McManus on 020 7009 2127.