2024-04-09 01:05:00 ET
Summary
- A softening of the UK labour market was signalled by the March recruitment industry survey, compiled by S&P Global on behalf of the Recruitment and Employment Confederation (REC) and KPMG.
- The March survey showed the slowest pay growth for over three years, as recruiters report reduced demand for staff and improving staff availability.
- Less encouraging is the signal from the survey that firms are cutting employment, which could in turn lead to a rise in unemployment in the months ahead.
Recruitment industry survey data are particularly useful as they provide a leading indicator of the tightness of the labour market in terms of the balance of supply and demand for staff, as well as resulting pay pressures. ...
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U.K. Recruiters Signal Coolest Pay Growth For Over 3 Years In March 2024