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Financial News: UK Hiring Activity Recovers As More Part Of

UK Hiring Activity Recovers As More Part Of Economy Reopens: REC/KPMG

10/08/2020 - 01:38:00 (RTTNews)

(RTTNews) - UK firms reported further rise in hiring activity in September and job vacancies climbed for the first time since February, the latest KPMG and REC Report on Jobs revealed Thursday.

According to the report compiled by IHS Markit, permanent placement grew the most in nearly two years, and temp billings expanded at the quickest rate since the end of 2018. The upturn was driven by the reopening of the economy and the recommencement of projects.

Driven by higher demand for permanent workers and a solid rise in temporary vacancies, overall job vacancies grew for the first time since February. The report showed that redundancies stemming from the pandemic led to a further substantial increase in staff supply, which dampened pay trends for both permanent and temporary workers.

"With increasing unease over what will happen in the coming months with the pandemic, Brexit and with the end of the furlough scheme in sight, the uncertainty for UK business is not going to dissipate anytime soon," James Stewart, vice chair at KPMG, said.

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