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Financial News: UK Permanent Job Placements Rise On Market Confidence

UK Permanent Job Placements Rise On Market Confidence

02/07/2020 - 01:40:00 (RTTNews)

(RTTNews) - UK permanent staff appointments logged its first back-to-back increase for over a year in January, the latest Report on Jobs from IHS Markit showed on Friday.

According to Recruitment & Employment Confederation/KPMG report, permanent job placements increased due to improved business confidence following the general election.

Meanwhile, temporary billings decreased for the first time since April 2013 with a number of recruiters blaming this on upcoming changes to IR35 legislation.

Further, the report showed that the number of staff vacancies across the UK rose at the quickest pace for ten months in January, largely reflecting demand for permanent workers.

Data signaled softer increases in starting pay for both permanent and temporary workers in January despite further fall in candidate supplies.

James Stewart, Vice Chair at KPMG, said "Following the UK exit of the EU, there are promising signs that the UK jobs market is finally on the up with the strongest rise in permanent places for over a year - good news for job hunters.

"However, with regulatory and trade negotiations all to play for, there is still a long way to go for a deal to be struck and businesses to have the clarity they need," Stewart added.

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