UK recruiters report slowest hiring rise in 17 months

LONDON  – British employers slowed their hiring via recruitment agencies by the most in 17 months in July as they worried increasingly about the outlook for the economy, a survey showed on Friday.

With the Bank of England now warning of a recession between late 2022 and early 2023, hiring of temporary workers outgrew permanent staff appointments, the Recruitment and Employment Confederation (REC) said.

Pay growth, while still strong by historical standards, was the least marked for 11 months for permanent staff and was the slowest in just over a year for temporary workers.

Growth in vacancies fell to a 16-month low and the supply of candidates to fill jobs – which has been an acute problem for employers – worsened by the least since April 2021.

The BoE said on Thursday, as it raised interest rates by the most since 1995, that it saw signs of inflationary pressure in the labor market despite its bleak forecasts for the economy. William Schomberg

Subscribe to our business newsletter

Read Next

Don’t miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TheDailyCheck is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected] The content will be deleted within 24 hours.