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Olympics cause jobs market ‘slowdown’

17 September 2012

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The jobs market slowed “significantly” during the Olympics, according to data from the Association of Professional Staffing Companies (APSCo).

Professional vacancies in both the permanent and temporary sectors fell in August 2012, compared to last year (down 24% and 15% respectively), while permanent placements also fell (3%).

“This year, with the added distraction of the Olympics, some workplaces slowed almost to a standstill and businesses may have decided to put recruitment on temporary hold,” said Ann Swain, Chief Executive for APSCo.

“Summer is typically a slow time for the professional jobs market as hiring activity dips and employees take time off for annual leave.”

“Many professionals seem to have heeded the Government’s suggestions, either to take time off during the games or to work from home – that’s had an influence on hiring.”

“Some management teams in professional services firms took the decision not to interview applicants during the Olympics.”

Despite the drop in the permanent jobs market, APSCo data shows there was a 4% rise in UK temporary placements last month, compared to August 2011.

Across the UK economy as a whole, the number of unemployed Britons fell to its lowest level in almost a year in the build-up to the Olympics, something which is claimed to be buoyed largely by the number of temporary jobs created by the Olympics.