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Financial News: UK Hiring Activity Continues To Fall In June

UK Hiring Activity Continues To Fall In June

07/08/2020 - 01:59:00 (RTTNews)

(RTTNews) - UK hiring activity continued to fall in June as clients continued to freeze or cut back on their recruitment plans due to the coronavirus pandemic, the Report on Jobs compiled by IHS Markit showed on Wednesday.

Both permanent staff placements and temporary billings decreased at notably weaker rates than in April and May when the covid-19 pandemic was at its most severe. However, rates of contraction remained sharp.

According to KPMG/REC report, the availability of workers grew at the fastest pace since 2009 due to increased redundancies and workers who were on furlough started seeking new jobs.

Starting pay for both permanent and short-term staff fell further in June as demand for workers remained weak and labor supply continued to increase. Further, demand for staff remained historically weak in June.

James Stewart, vice chair at KPMG, said, the air of uncertainty around the covid-19 pandemic will linger - and rebuilding confidence in the UK jobs market will take time.

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