Recruitment slowing down - 02/2001

Overworked, exhausted recruiters may be getting more of a break then they bargained for. According to new numbers, the New Year marks the start of a hiring slowdown. Although the unemployment rate is steady at 4 percent, job creation has dropped, as has the number of hours employees work. Hoping to pull in the economic reigns, the Fed cut the interest rate by half a percentage point in January. Most financial analysts expect further cuts. Adding more water to the fire is a new survey by staffing firm Challenger, Gray & Christmas. The study announced there were 133,713 job cuts in December. That number is three times as high as November's figures.

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