UK Job Placement Growth At 19-Month Low: Report On Jobs

UK job placements expanded at the weakest pace in over a year-and-a-half in September as uncertainty over the economic outlook and candidate shortages hampered growth, the latest KPMG and REC, Report on Jobs survey, compiled by S&P Global showed Friday.

Permanent staff appointments and temp billings grew at the weakest rates in 19 months.

Although strong demand for staff and efforts to boost capacity underpinned further increase in hiring activity, the pace of growth weakened due to subdued economic climate and limited staff supply.

Further, vacancy growth eased for the sixth consecutive month in September, to mark the slowest rise in demand since February 2021.

Th rising cost of living and competition for scarce workers drove another marked increases in starting pay for both permanent and short-term workers. However, the rate of starting salary inflation moderated to a 15-month low.

There were further signs of the downturn in labor supply easing in September. Candidate numbers continued to fall sharply. Permanent staff availability deteriorated as candidates were hesitant to apply for new roles, driven by fears over the economic outlook.

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