The credit crunch is really starting to hit job growth in the UK, according to a new survey, and - surprise, surprise - the financial and business services sector is suffering the most.

The Manpower employment outlook survey of 2,100 employers across the country showed a severe decline in hiring confidence in the City and financial institutions, with employers reporting their weakest employment outlook in a decade.

Manpower added that a number of City employees have already started to make redundancies and more were expected in the coming months as companies reviewed their staffing requirements.

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