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Labour market remains positive

12/04/2008

The labour market is in a more positive position than many thought, the Recruitment and Employment Confederation (REC) has said.

Tom Hadley, director of external relations, acknowledged there is pressure on the market from difficulties in the economy but stressed its "not as bad as people thought".

"Often, the state of the labour market is a good indicator of how the economy is doing – the two are very much linked and if there was a full-blown recession that would have a direct impact."

Some financial companies have made cuts because of a recent economic downturn and difficulties in credit markets, although accountancy jobs are not thought to be under threat.

Steve Blaney, a London-based spokesperson for the Royal Bank of Scotland, told Bloomberg: "Most global financial institutions are reviewing their businesses in light of the current market conditions."

Mr Hadley described the jobs market as "in limbo" but stressed: "It's a mixed picture and at the moment, but it's not a very negative picture."

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