We were hoping the first UK jobs report of 2025 would reveal a revival in the recruitment market.
Unfortunately not.
The key numbers are once again showing hiring hesitancy, as economic uncertainty (caused by both UK and global factors) weighs on future business planning.
January’s KPMG/REC jobs report roundup
- Permanent placements continued to fall, reflecting ongoing hiring hesitancy across most sectors
- Temporary billings dropped at their steepest rate in over four years, as businesses pulled back on short-term hiring
- Pay inflation weakened, with starting salary growth slowing due to rising staff availability
- Vacancy numbers dropped sharply, marking the steepest decline since August 2020
The Northern Perspective
Like the rest of the UK, the North has seen a sharp decline in hiring activity. However, demand for senior hires in finance and technology remains strong.
Roles in short supply include:
- Finance Directors and CFOs, as businesses continue to prioritise strong financial leadership
- Senior IT and cybersecurity professionals, with digital transformation and security still key areas of investment
What this means for businesses
Now is the time to focus on:
- Retaining top talent – The competition for skilled professionals isn’t easing
- Strategic workforce planning – Align hiring decisions with long-term business needs
- Investing in leadership – A strong leadership team is key to getting through uncertainty
Please submit the form below to download our latest Report On Recruitment for January 2024.
The Report on Recruitment is a monthly publication produced by S&P Global and sponsored by KPMG and REC.
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