The Trade Union Congress has warned that unemployment could reach the two million mark in 2009 with a winter surge of redundancies resulting in many more thousands joining the ranks of the unemployed in the first quarter.
Added to this the series of high street crashes which has seen household-name businesses folding in the past few months, with more sure to follow, the future for job seekers looks bleak.
Yet it's not all doom and gloom - there are some businesses which are continuing to enjoy success, continuing to expand and recruit staff.
LexisNexis, the largest and fastest growing part of Reed Elsevier, for one, is on an intensive recruitment drive this year.
Last year, the company, which has a 1,000 plus workforce, saw a massive year-on-year increase in the number of placements made from 294 to 393 and the recruitment efforts are expected to intensify this year at its London, Croydon, Twyford and Leeds centres.
Sharon Ardley, head of selection and development, says key staff members are the cornerstone of a successful business, and the company must attract "top talent" to remain competitive.
According to Sharon, people who are experts in their field are able to deal with complex and ambiguous situations, are commercially focused, comfortable about challenging the status quo and making a difference.
"Hiring the right people is essential, as they will add value to the business and culture, and help to ensure customers' needs are met," she said.
But finding the right individuals is not always as simple as advertising and going through recruitment agencies says Sharon, who believes it helps to look at alternative methods including networking, referrals, forums and direct contact in order to fill the positions they have.
At LexisNexis these positions are across the board in fields of sales and marketing through its publishing operations, conferences and events, finance, interaction management and practice management as well as some roles which are unique and require a definitive skill set.
"For staff, especially during these troubled times, nothing can be more motivating than to be working for a company which is committed to the future and which offers direction, opportunities, a good culture and competitive benefits , and this will pay off for the company in the end," Sharon added.
A desirable employer with competitive remuneration and benefits will ensure an excellent response during recruitment efforts, she said
But it's not just about having the right person for the job. Managing director, Josh Bottomley, says a company's products and services are key in times of economic downturn.
"It is critical for a business to remain focused on its products and services, and ensure that the customer experience remains best in class," he said
Across the globe LexisNexis keeps its customers well informed by giving them access to five billion searchable documents from more than 40,000 legal, news and business sources.
This essential research and current affairs information is made accessible to legal, tax, business, academic and public sector professionals by combining it with advanced software and web technology.
According to Josh, this is an "unrivalled" information service, which is essential to professionals. It is used by 60,000 organisations in the UK, including all the top law and accountancy firms, most large companies and almost all the local authorities in the UK, including Whitehall departments.
For companies which are holding their own in troubling times, success also comes from embracing change and adapting to changing conditions.
Josh said: "We are not immune to the recession, however, we are continuing to invest in the business and our focus is changing because of the economic situation.
"Those who can offer a service which can help others to be more competitive in their field or help them to cut costs, will find that their services are invaluable and in demand."
Take the case leading PR consultancy Kinetics Communications, which won at least one £50,000 account because it was able to show a prospective client the media coverage they had achieved over the last 10 years. Kinetics was able to do this because it had invested in an invaluable online service which has access to more than 12,000 regional, national and global newspapers.
Josh said: "What our customers are asking for is changing. Certainly, our clients who need to reduce staff numbers are very keen to make sure those who remain are as well informed and equipped to take action as they can be.
"And in addition, in the current environment we are finding some of our traditional customers are asking for more information because they are worried about their suppliers and customers in a way they were not before.
"Our success depends on their success so we have to put ourselves in their shoes, understand their goals and challenges and align our assets to help. This helps not only in times of recession but in times of prosperity as well."
Companies which are expanding rather than streamlining are few and far between and the reasons for their success in the face of adversity can be varied.
But whether it's down to the service they provide, their dedicated workforce or their ability to adapt, it is encouraging for job seekers to see there are at least some still recruiting rather than downscaling.
Click here to view all current vacancies from this employer.
This article was sponsored by LexisNexis
