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Financial News: UK Demand For Staff Rises At Slowest Pace

UK Demand For Staff Rises At Slowest Pace Since 2012

09/05/2019 - 23:27:00 (RTTNews)

(RTTNews) - The UK labor market conditions softened in August on Brexit uncertainty, the latest Report on Jobs from IHS Markit showed Friday. According to Recruitment & Employment Confederation/KPMG report, total demand for staff grew at the weakest pace since 2012 with softer rates of increase in both permanent and temporary vacancies.

Meanwhile, the latest reduction in staff supply was the least marked for over two-and-a-half years.

Permanent placements declined the most in over three years as employers delayed hiring amid heightened uncertainty surrounding political and economic environment.

The rate of pay inflation was the slowest recorded since December 2016, while temp pay growth edged down to a five-month low.

"Today's figures are a sobering reminder to politicians of all parties that national prosperity relies on businesses creating jobs and growing careers," Neil Carberry, Recruitment & Employment Confederation chief executive, said.

"The first priority should be avoiding a damaging nodeal Brexit and giving some stability back to British businesses, so they can drive the prosperity of the whole country," Carberry added.

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