Drop in permanent hiring is the softest in over a year
The S&P Global Survey KPMG and REC, UK Report on Jobs, highlighted another reduction in permanent job placements made in May by UK recruitment consultants. Delayed decision-making and a lack of demand amongst companies were reported to have affected recruitment activity. However, May’s fall in permanent placements was small and reduced for the second month to its lowest level since March of 2023. There was also a slower reduction in the number of temporary appointments, with the reduction in these being the weakest since January 2024.
May’s survey also showed a drop in the number of vacancies, although the decline was slight and the lowest in the ongoing seven-month downturn. Despite this, the high cost of living and shortages of quality candidates meant that pay rates continue to rise.
The report is published by S&P Global from answers to a regular questionnaire sent to a panel of approximately 400 UK recruitment consultancy companies.