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Financial News: UK Hiring Activity Remains Subdued Amid Brexit Uncertainty

UK Hiring Activity Remains Subdued Amid Brexit Uncertainty

06/06/2019 - 23:06:00 (RTTNews)

(RTTNews) - UK's hiring trends remained subdued amid Brexit-related uncertainty, the Report on Jobs by KPMG and Recruitment & Employment Confederation showed Friday.

Permanent placement decreased further in April, while temporary billings grew at the slowest pace for over six years.

The report, compiled by IHS Markit from responses of around 400 UK recruitment and employment consultancies, showed that overall vacancies rose slightly but remained close to April's 80-month low.

Ongoing Brexit-related uncertainty and generally tight labor market conditions were cited as major factors weighing on candidate availability.

Although salaries paid to permanent starters increased in May, the pace of inflation was the least marked for just over two years. At the same time, temp wages increased at the quickest pace for six months.

"We expect the labour market to remain in stalemate over the summer as the contest for a new Prime Minister kicks off," James Stewart, vice chair at KPMG, said.

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