Turnover in the UK’s recruitment industry dropped by more than 12% to just under £20bn in the year to March 2010, according to the annual industry report launched today (Thursday 28 October) by the Recruitment and Employment Confederation (REC) in association with Barclays Corporate.

The report revealed annual turnover fell to £19.7bn during the period April 2009 to March 2010 compared to £22.491bn last year.

Permanent placement turnover dropped by 27.6% to £1.9bn while temporary and contract turnover fell 10.4% to £17.8bn.