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Financial News: UK Permanent Jobs Increase At Fastest Pace In

UK Permanent Jobs Increase At Fastest Pace In 14 Months

03/05/2020 - 23:34:00 (RTTNews)

(RTTNews) - UK permanent jobs increased at the fastest pace in 14 months in February driven by improving market confidence after general election, the latest Report on Jobs from IHS Markit showed on Friday.

However, temp billings fell for the second straight month largely due to upcoming IR35 legislation changes, according to Recruitment & Employment Confederation/KPMG report.

Further, data showed an overall drop in candidate supply, which was the weakest recorded since June 2013 in February. At the same time, higher vacancies were signaled for both the public and private sectors in February.

Strong demand for workers as well as a lack of suitably skilled candidates led to a further rise in permanent starting salaries. The inflation rate was the biggest since June 2019.

Looking ahead, the current big unknown is the impact and influence the coronavirus may have on market confidence, let alone the lingering uncertainty around the actual Brexit deal, James Stewart, Vice Chair at KPMG, said.

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