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Increasing availability of permanent and temporary candidates continues
A recent report from KPMG and REC’s ‘UK Report on Jobs,’ highlighted that the UK job market witnessed a ninth consecutive month of increased worker availability. This rise and surge in permanent and temporary candidates was the quickest in almost three years. The driving factors behind this rise were noted as an escalation in redundancies and concerns over job security. Despite many available workers, economic uncertainty and employer hesitancy to make new hires continue.
Recent data from S&P Global’s survey for the report underscored the connection between the increased availability of workers and the worries around job security. Despite the excess of candidates, the report showcased a drop in starting salary and temporary pay inflation, reaching nearly three-year lows. The dip was attributed to financial constraints affecting overall growth, with recruiters noting the impact of pressures with budgets on pay rates.
Neil Carberry, CEO of REC, highlighted the variations between regions and sectors, noting strong job market performances in the Midlands and North for both temporary and permanent roles. However, down south there was a differing view, ‘with London and South, with permanent hiring in London especially slow.’
Increase in permanent employment
In November, permanent placements in the Midlands increased for the second consecutive month, marking an acceleration from October. Notably, the Midlands was the only English region to observe growth in permanent placements, while a significant decline in London impacted the overall UK figures.
Contributing factors - Respondents in the Midlands attributed this rise to the availability of candidates, providing a positive outlook despite the overall hiring atmosphere. While temporary billings increased in the Midlands, the rate of expansion was marginal, marking growth in the past six months.
Regional comparison - The Midlands' performance contrasted nationwide, with the North of England being the only other region to observe a rise. The demand for staff in the Midlands improved solidly, with permanent vacancies showing the most pronounced rise among the four English regions.
The Midlands region is an area where we have a wide range of vacancies across different sectors available. Click here to check the job opportunities in the Midlands area or wider.