Insights
October’s Report on Jobs indicated that uncertainty and rising costs continued to weigh on UK recruitment activity, with permanent placements falling for the first time in four months. Recruiters linked the slowdown to subdued business confidence and ongoing economic uncertainty.
Temporary billings also declined for the first time since March, signalling a renewed weakening in demand for temporary staff.
Candidate availability increased sharply in October, with recruiters reporting that redundancies and fewer job opportunities were key factors behind the latest rise in the number of people seeking work.
Despite the slowdown in hiring, starting salaries and temporary wages increased at a stronger pace. However, both rates of pay growth remained subdued compared with historical trends.
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