The six-million-strong jobs sector that includes estate agents is to face a tough three months as a lack of confidence caused by Brexit continues to hammer the economy, a leading recruitment agency has claimed.
Manpower’s latest jobs survey reveals that employers within the finance and business services sector, which includes estate agents and lawyers, are expecting to cut their headcount over the next three months.
The company says its net employment sentiment survey for the next three months shows the sector in negative territory for the first time in ten years.
“We should be under no illusions about just how serious this is – not just for those workers directly affected, but the UK economy as a whole,” says James Hick, Managing Director for ManpowerGroup Enterprises (left).
“The UK jobs market has been like a party that no-one has wanted to leave, and the ONS recently reported a 440,000 increase in employment in the past year.
“However, this quarter we are seeing signs that the good times are coming to an end as several sectors have turned negative.”
The weakening of confidence in the finance and business sector mirrors a national slowdown in jobs confidence, lead by several regions including the North East, Wales, London and Scotland.
Manpower interviewed 2,124 companies in the UK to come to its conclusions, asking them whether they intend to hire additional workers or reduce the size of their workforce in the coming quarter.
Research from Manpower’s quarterly survey is included in official government economic statistics.