Marketers are taking a “more cautious” approach to recruitment as they balance the need for talented new staff and plans to develop and launch new products with economic and political uncertainty.

According to the quarterly IPA Bellwether, a net balance of just 2.7% of marketers say they expect employment to be higher at their company in three months’ time compared to current levels. While 24% of firms say they expected to hire, this was almost completely offset by the 21% who expect to cut jobs.

The figure is a sharp fall from the prior quarter, when it was 10.5%, and the same quarter in 2018 when it was 14.2%. In fact, hiring prospects…