Reed warns of impending recession following jobs fall

The UK is heading for recession, warns James Reed (pictured), chairman of recruitment giant REED.

Reed’s warning follows new data from the reed.co.uk Job Index, which shows number of advertised vacancies fell by 2.3% in Q2 2019, compared to the same quarter last year – the largest percentage drop on reed.co.uk since 2010.

The hospitality and catering sector saw the biggest annual decline, with new job vacancies 24% down compared to Q2 2018, followed by education which witnessed a 10% drop.

Commenting on the figures, Reed said: “Worrying storm clouds are forming around the UK’s job market. The largest fall in jobs since 2010 on the REED website is a clear sign that the canary has fallen off its perch and that we are heading for a recession.

“The next prime minister will come to captain an economy with fewer job opportunities amid a national economic slowdown.

“A fiscal stimulus is required to kick-start the British economy. By providing targeted corporate tax cuts and giving British workers the pay rise they deserve, the economy can be supercharged back from the brink and job opportunities can begin picking up again.

“Johnson or Hunt, the next PM has a mammoth task ahead of them. Brexit won’t be their only headache; stimulating the economy to avoid a recession should also be a priority.”

• Comment below on this story. You can also tweet us to tell us your thoughts or share this story with a friend. Our editorial email is recruiter.editorial@redactive.co.uk

Myles speaks about his ex-recruiter life on I’m a Celeb

If you were paying attention yesterday evening, I’m a Celebrity viewers may have noticed former X Factor champion Myles Stephenson disclose something that regular Recruiter readers already knew.

Lighter Side 20 November 2019

New care centre to create 100+ jobs in North Yorkshire

North Yorkshire’s care sector is being boosted to the tune of 130 new jobs.

25 October 2019

APPOINTMENTS: 21-25 OCTOBER 2019

This week’s appointments include: Airswift, Bullhorn, Carestaff Solutions, Heidrick Consulting, Korn Ferry, Nexxt, Projectus Consulting, Taranata Group

People 22 October 2019

Royal Navy uses VR gaming technology to recruit submariners

The Royal Navy has launched a new campaign to recruit 250 submariners by the end of next year at a video games event last week.

21 October 2019
Top