The KPMG and REC UK jobs report captures original survey data, providing the most up-to-date monthly picture of recruitment, employment, staff availability, and employee earnings trends.
Here’s what you need to know:
October marked over two years of declining permanent staff placements across the UK, with the rate of contraction accelerating to its sharpest since March. Factors such as recruitment freezes and uncertainty around the Autumn Budget contributed to the trend. In the North, while the decline in permanent placements continued, it was slower than in other regions.
UK-wide, permanent salary growth softened further in October, reaching its lowest level since February 2021. While companies remain willing to increase starting pay for top talent, higher staff availability and lower demand have dampened salary growth. The North saw a marginal rise in starting salaries, the only region to record this.
Temporary billings fell, marking the steepest reduction in seven months. However, the North recorded a slight increase in temp billings, showing a pivot toward flexible staffing solutions in the region, particularly within finance and tech.
Staff availability continued to rise, driven by redundancies and reduced hiring activity, marking the twentieth month of this upward trend. The North experienced a notable increase in both permanent and temporary staff availability, providing businesses with a deeper talent pool to draw from.
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