Finance business levels down in the UK

Posted on 29 September 2008

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New figures have shown that business levels in the financial services sector are down by 46 per cent.

Research by the Confederation of British Industry (CBI) and PricewaterhouseCoopers has found that it could take up to six months for the current turbulent market conditions to return to "normal".

In news which may interest those considering working as a self-employed accountant, individuals have experienced a lower rate of business drop, only 41 per cent over the last quarter.

The survey is predicting that up to 12,000 people could lose their jobs before the end of the year.

John Cridland, CBI deputy director-general, said: "Firms have become more fearful about the extent and length of the credit crunch, and they are now looking to cut more jobs and scale back investment".

Recruitment firm Hays has said there is still a range of opportunities for finance workers in the public sector despite the current financial downturn.

Category: General News

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