REC’s Hiring Insight for October 2019
Thursday, 31 October 2019
Jobs Outlook is the REC's monthly survey detailing the hiring intentions of UK employers. Jobs Outlook features in-depth analysis and insight about the UK's labour market, including detailed responses from employers about workforce planning. The report also includes data about demand and anticipated candidate shortages covering more specific job roles than before including: health & social care, construction, drivers, legal and HR, marketing, media and creative.
The Headlines are:
Hiring activity remains weak as uncertainty over the outlook intensifies in October
- Solid drop in permanent staff appointments, temp billings rise only slightly
- Vacancy growth eases to 93-month low
- Pay continues to rise as candidate availability falls again
Recruitment consultancies across the UK continued to register subdued hiring trends during October, according to the latest KPMG and REC, UK Report on Jobs data. Permanent staff appointments fell solidly at the start of the fourth quarter, which was widely linked to Brexit-related uncertainty, as many employers had chosen to cancel or postpone hiring until there was greater clarity over the outlook. Growth of temp billings meanwhile eased to a marginal pace.
Demand for staff was likewise relatively lacklustre, with vacancies expanding at the slowest rate for over seven-and-a-half years. Notably, growth of demand weakened for both permanent and short-term staff. An uncertain outlook also weighed on overall candidate availability, which fell at the quickest rate since June. Reduced labour supply meant that employers had to up pay offers again, with starting salaries and temp wages rising at marked rates.
The report is compiled by IHS Markit from responses to questionnaires sent to a panel of around 400 UK recruitment and employment consultancies.
Source: REC: https://www.rec.uk.com/