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Financial News: UK Temp Job Placements Rise As Economy Reopens:

UK Temp Job Placements Rise As Economy Reopens: REC/KPMG

09/09/2020 - 05:04:00 (RTTNews)

(RTTNews) - UK firms raised temporary job placements in August following the relaxation of public health measures and reopening of the UK economy after the Covid-19 outbreak, the latest KPMG and REC Report on Jobs showed Wednesday.

According to the report compiled by IHS Markit, permanent placements increased only slightly, while temp billings expanded at the fastest rate for 20 months.

Temporary work is critical in any recovery - businesses turn to temps to help them ramp up and meet demand while the future looks uncertain, Neil Carberry, Chief Executive of the REC, said.

At the same time, it enables people to find work quickly, Carberry added. Past recessions show that temporary work bounces back more quickly - it is one of our jobs market's biggest strengths and that's really showing now.

Availability of workers continued to expand at a historically sharp rate in August as company lay-offs had raised candidate numbers.

Increased worker availability and muted demand for staff continued to weigh on starting pay in August. Both starting salaries and temporary wages declined at weaker rates.

Overall vacancies decreased for the sixth straight month in August, with the rate of decrease quickening slightly since July.

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