Via the latest Recruitment and Employment Confederation (REC) and KPMG survey
growth in starting pay for permanent roles was the lowest since February 2021.monthly index of permanent job placements continued a two-year decline, though the hiring drop was less severe than in August.increase in available candidates for rolesvacancies dropped for the 11th consecutive month at the fastest rate since March.
Factors cited included
Companies face uncertainty regarding tax and economic policies ahead of finance minister Rachel Reeves’ first annual budget on October 30.Reeves has hinted at potential tax increases to support public services and investment
Implications of the survey results:
KPMG said easing pay pressures could support further interest rate cuts by the Bank of England (BoE) in November.
This article was written by Eamonn Sheridan at www.forexlive.com.
