–KPMG/REC: Sep Permanent Placements 54.6 vs 56.3 In Aug
–KPMG/REC: Sep Temporary Placements 52.8 vs 54.0 In Aug
–KPMG/REC: Sep Vacancies Index 54.0 vs 56.2 In Aug
–KPMG/REC: Permanent Salaries Index 52.2 vs 53.0 in Aug
–KPMG/REC: UK Sep Permanent Places Growth At 12-Month Low
LONDON – The pace of growth in the UK jobs market slowed for
the sixth consecutive month in September, and pay growth eased,
according to the latest survey of the labour market for KPMG/REC and
compiled by Markit.
The permanent jobs indicator slipped nearer to the
expansion/contraction threshold of 50, with the index falling to 54.6,
down from 56.3 in August and 60.2 in July, hitting its lowest level for
12 months.
The temporary jobs index fell to 52.8, its lowest level since
October 2009 and down from 54.0 in August and 54.3 in July.
The availability of permanent staff index increased to 49.1 in
September, the first increase since June.
The KPMG/REC survey shows pay growth for permanent staff skidding
to a ten-month low in September. The permanent salaries index fell to
52.2 versus 53.0 in August and 56.1 in July. The rate of growth of
temporary, hourly pay rates fell to a nine-month low, dropping to 49.7
from 51.6 in August.
Pay growth in the UK has remained subdued despite elevated
inflation outturns. Bank of England Monetary Policy Committee members
have highlighted the risk of pay growth accelerating, but these latest
data for KPMG/REC show it slowing instead.
Bernard Brown, head of Business Services at KPMG, said that he
expects the jobs market to deteriorate further as the UK embarks on a
period of fiscal consolidation.
“Many (public sector) organisations have started redundancy
programmes or have at least imposed hiring freezes. For example, the
sharp decline in the demand for healthcare professionals comes as a
direct result of government cutbacks and efforts to reform the NHS and
may be only a sign of things to come,” he said.
–London newsroom: 4420 7862 7491; email wwilkes@marketnews.com
[TOPICS: M$B$$$,MABDS$]