FOREX TradingCharts.com

Financial News: UK Salary Inflation Softens In January

UK Salary Inflation Softens In January

02/08/2024 - 05:13:00 (RTTNews)

(RTTNews) - UK starting salary inflation reached the lowest in nearly three years in January amid rising staff supply, a report compiled by S&P Global showed on Thursday. Permanent salary inflation remained high in January but the rate of growth was the softest since March 2021, the KPMG/REC Report on Jobs said.

On the other hand, temp wage growth rose to a five-month high. Competition for skilled staff continued to lift pay rates higher. That said, pressure on client budgets limited overall pay growth.

Permanent placements declined at an accelerated pace, while the downturn in temp billings remained mild. Firms often paused recruitment plans amid subdued economic conditions.

Further, vacancies declined at a marginal pace in January. Demand for staff weakened in four of the past five months, reflecting reduction in permanent job opportunities. On the other hand, temp vacancies grew at the slowest pace since November 2020.

There was a sharp increase in supply of candidate but the rate of growth eased to a four-month low. Permanent staff supply continued to increase slightly faster than that seen for short-term workers.

Recruitment & Employment Confederation Chief Executive Niel Carberry said, "The labor market's resilience is a great strength of the British economy - but it can't last for ever without sustained economic growth".

Carberry said it is high time that the Bank of England starts releasing the brake pedal on the economy.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


China Maintains Growth Target Of About 5% (55 min(s), 58 sec(s) ago)
(RTTNews) - Despite the fading favorable base year effects, real estate meltdown and deflationary ...Full Story»

Philippine Inflation Rises To 3.4% (01 hr(s), 28 min(s), 58 sec(s) ago)
(RTTNews) - The Philippines' consumer price inflation increased in February after easing to a ...Full Story»

Singapore Retail Sales Rebound 1.3% (01 hr(s), 44 min(s), 58 sec(s) ago)
(RTTNews) - Singapore's retail sales expanded in January, largely led by higher sales demand f ...Full Story»

Russian Services Activity Expands Least In 13 Months (02 hr(s), 37 min(s), 58 sec(s) ago)
(RTTNews) - The Russian services activity grew at the weakest pace in just over a year in February ...Full Story»

India Services Growth Remains Strong In February (03 hr(s), 12 min(s), 58 sec(s) ago)
(RTTNews) - India's service sector activity continued to expand strongly in February despite a ...Full Story»

European Economic News Preview: Eurozone Final PMI Data (04 hr(s), 10 min(s), 58 sec(s) ago)
(RTTNews) - Final composite Purchasing Managers' survey results from the euro area and the UK ...Full Story»

China Sets 2024 Growth Target (48 min(s), 02 sec(s) ago)
(RTTNews) - China aims to achieve an economic growth of about 5 percent in 2024, which was unchang ...Full Story»

China Services PMI Fades In February - Caixin (08 min(s), 02 sec(s) ago)
(RTTNews) - The services sector in China continued to expand in February, albeit at a slower pace, ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

China Maintains Growth Target Of About 5%

03/05/2024 - 03:44 AM (RTTNews)
(RTTNews) - Despite the fading favorable base year effects, real estate meltdown and deflationary ...Full Story>>

Philippine Inflation Rises To 3.4%

03/05/2024 - 03:11 AM (RTTNews)
(RTTNews) - The Philippines' consumer price inflation increased in February after easing to a ...Full Story>>

Singapore Retail Sales Rebound 1.3%

03/05/2024 - 02:55 AM (RTTNews)
(RTTNews) - Singapore's retail sales expanded in January, largely led by higher sales demand f ...Full Story>>

Russian Services Activity Expands Least In 13 Months

03/05/2024 - 02:02 AM (RTTNews)
(RTTNews) - The Russian services activity grew at the weakest pace in just over a year in February ...Full Story>>

India Services Growth Remains Strong In February

03/05/2024 - 01:27 AM (RTTNews)
(RTTNews) - India's service sector activity continued to expand strongly in February despite a ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.