The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs – published today – provides the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies.
- Permanent appointments growth still strong in October, despite easing
- Pay growth moderates
- Staff availability continues to decline markedly
Growth of staff appointments eases…
Permanent staff placements continued to rise in October, extending the current period of expansion to 25 months. However, the rate of expansion was the slowest since November 2013. Similarly, temporary/contract staff billings increased for an eighteenth successive month, but the latest rise was the least marked since June 2013.
…reflecting slower rise in demand for staff
Although the number of vacancies available to candidates seeking work also increased further in October, the rate of growth eased to a 10-month low.
Pay growth moderates
October data pointed to slower growth of staff pay. Permanent staff salaries increased at the weakest rate since February, while temporary/contract staff pay growth eased to a five-month low.
Candidate availability continues to fall sharply
Recruitment consultants reported that candidate availability remained tight in October. The rate of decline in permanent staff availability was marked, despite easing slightly to the slowest since May, while temp availability decreased at the fastest pace in three months.
Regional and sector variation
Permanent placements increased fastest in the Midlands during October, while the slowest growth was reported in the North.