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Financial News: UK Hiring Activity Remains Subdued Amid Brexit Uncertainty

UK Hiring Activity Remains Subdued Amid Brexit Uncertainty

11/08/2019 - 04:13:00 (RTTNews)

(RTTNews) - UK hiring activity remained subdued in October, dampened by political and economic uncertainty, the Report on Jobs from IHS Markit showed Friday.

According to Recruitment & Employment Confederation/KPMG report, permanent job placements declined at a solid pace in October, as employers preferred to wait until there was greater clarity over the outlook on Brexit. At the same time, temp billings growth weakened to only a marginal pace.

There was a moderate upturn in demand for staff in October. The rate of vacancy growth was the weakest since January 2012.

Data showed deterioration in candidate supply as people were reluctant to seek out new roles. At the same time, salaries awarded to newly-placed permanent staff continued to rise sharply. Average pay for short-term staff also rose considerably.

"These figures underline why this needs to be a jobs election," Neil Carberry, REC chief executive, said.

One bright spark is the temporary labour market, which continues to provide flexible work to people and businesses that need it during troubled times, Carberry noted.

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