Recruitment activity across the UK weakened at the start of the final quarter, according to the latest KPMG and REC, UK Report on Jobs survey, compiled by S&P Global. Recruiters signalled a renewed drop in permanent placements and stagnant temp billings as heightened uncertainty over the economic outlook weighed on staff hiring. Concurrently, there was a further slowdown in rates of vacancy growth for both permanent and temporary staff.
Greater hesitancy to look for or switch roles alongside a generally low level of unemployment led to a further steep drop in the supply of workers. The sustained decline in candidate numbers and cost-of-living pressures continued to place upward pressure on starting pay. However, rates of salary inflation and temp pay growth fell to 18- and 17-month lows, respectively.