Demand falls for senior staff

Demand for senior executives in the design and research and development industries has fallen faster than in any other sector, according to new research.

Figures released yesterday by recruitment consultancy MSL Search and Selection for the first quarter of 1999 show an overall decrease in demand for senior staff of 17 per cent, compared to the same period last year. The Design/R&D category showed a 39 per cent decline, the fourth consecutive drop since a peak in the second quarter of 1998.

Professor of Economics at Imperial College Management School Stephen Hall says the trend reflects a serious problem. “Our monetary policy has created an over-valued exchange rate and a serious recession in the sectors of the economy open to foreign trade and competition,” he says.

The second biggest fall in demand was in the Information Technology sector, at 26 per cent. The only category to remain static was General Management.