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Financial News: UK Permanent Job Placements Fall, Temporary Billing Rises:

UK Permanent Job Placements Fall, Temporary Billing Rises: REC/KPMG

11/05/2020 - 01:27:00 (RTTNews)

(RTTNews) - There was a renewed fall in the UK permanent job placements in October as greater uncertainty over the outlook amid rising Covid-19 infections weighed on hiring activity, the latest KPMG and REC Report on Jobs revealed Thursday.

However, greater uncertainty drove a further marked rise in temp billings, according to the report compiled by IHS Markit.

The survey revealed another fall in overall vacancies. At the same time, widespread reports of redundancies, and fears over current job security, fueled a further sharp rise in candidate availability.

A combination of rising candidate numbers and reduced client budgets contributed to further falls in starting pay.

"With a reluctance to recruit permanent staff and a big increase in people available for work, the impending lockdown puts the UK jobs market in a precarious position," James Stewart, vice chair at KPMG, said.

"While the furlough scheme extension may give a brief respite, it will fuel economic uncertainty and further dampen prospects for jobseekers, hitting hiring activity hard," Stewart added.

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