Economic uncertainty slows hiring activity as wage pressures recede in November

Rise in candidate supply

A weak economic outlook has driven cautious employers to slow down their hiring activity in November, as wage pressures continue to recede.

The latest KPMG and REC ‘UK Report on Jobs' survey compiled by S&P Global found that a sharper fall in permanent staff appointments and a fresh decline in temporary billings signalled a "broad-based reduction" in hiring activity last month. Permanent job placements fell at the second-fastest rate since June 2020, while temporary hires returned to a decline after two months of growth.  However, the survey found that the fall in temporary placements was milder compared to the decline observed in permanent hires, as some employers opted for the flexibility offered by contract workers in ...