Chancellor Warning Over Economy Highlights Need For Recruitment Help

Posted on Wednesday, December 14, 2022 by Lydia SinclairNo comments

Accountancy graduates and those set to graduate next summer may be forgiven for feeling a sense of trepidation over what comes next, with the UK widely believed to have entered into recession - although it would require confirmation of a contraction in the final quarter of 2022 to make that official.

Chancellor Jeremy Hunt has taken the position that it is pointless to offer false optimism. In his latest comments, after the Office for National Statistics revealed the economy shrank by 0.3 per cent in the three months to October, he commented: “These figures confirm that this is a very challenging economic situation here and across the world. And it will get worse before it gets better."

Such far from glad tidings as Christmas approaches will bring little festive cheer to anyone, least of all those planning to seek jobs soon. However, that is where an accountancy recruitment agency can prove invaluable. This is an effective way of matching candidates with the available jobs, giving those who take this step an advantage over other candidates. 

Overall, the UK unemployment level is still low by recent historical standards, at just 3.6 per cent in the three months to November. This figure was actually 0.2 per cent lower than in the previous three-month period. 

However, the number in employment has dropped, redundancies have risen and the number of vacancies in the three months from August to October was 46 per cent down on the previous three months. 

Of course, it may be that there is a significant need for accountancy services in the months ahead as firms try to find ways to make ends meet in difficult circumstances, but whatever does transpire over the next year of what is expected to be a lengthy but shallow recession, it is as important as ever for candidates to get as much help as they can to land that crucial first accountancy job.

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