Every month, we share the latest labour market trends based on statistics from the ‘UK Report on Jobs’ by KPMG and Recruitment and Employment Confederation (REC) as well as our own first-hand experience from within our regions.
The report is compiled by S&G Global, based on a monthly questionnaire sent to a panel of approximately 400 UK recruitment and employment agencies – including ourselves.
Key Points
Number of job postings rise again
Temp billings rise
Employers remain hesitant to recruit amidst uncertainty as Autumn budget looms
JOB POSTINGS RISE AGAIN
After Septembers 11% rise on August’s job postings, October saw a further 2.1% increase month on month. It also represents a 7.5% increase on the October 2024 figure – supporting the view that employer confidence is gaining in strength.
TEMPORARY RECRUITMENT BILLINGS RISE
For the first time since June 2024, recruiters have reported a rise in temporary billings. Whilst the number of permanent placements continues to fall, the decline is slowing – and was the softest it’s been for 15 months.
EMPLOYERS REMAIN CAUTIOUS
We’re now just days away from the Autumn budget, whilst the market is just showing signs of stabilisation, could the budget put the proverbial cat amongst the pigeons? We don’t know yet.
Recruiters still maintain that hirers appear to be holding back, afraid to commit to permanent hires until we have a better idea of the economic landscape that lies ahead.
SUMMARY
Much of the overall picture remains the same; permanent appointments falling amidst rising unemployment rates. Starting wages for permanent roles continue to show marginal growth but this is nuanced by region and sector.
It feels as though there’s a collective holding of breath until we know what the budget holds for businesses.
Neil Caberry of the Recruitment and Employment Confederation (REC) says:
“The Budget must give employers confidence to invest, with a focus on unlocking potential through delivering on skills reform, supporting business investment and reforming the approach to the Employment Rights Bill, which needs a dose of practicality and realism.”