UK KPMG/REC Jobs Report Shows Recruitment Activity Pick-Up

KPMG/REC UK SEP PERMANENT PLACEMENTS 56.0 VS 50.9 AUG

KPMG/REC UK SEP PERMANENT SALARIES INDEX 44.7 VS 45.1 AUG

• Sep's KPMG/REC jobs report showed a sharp increase in hiring activity with both permanent placements and temp billings rising at steeper rates.
• While permanent placements showed the strongest increase in almost two years, temp billings grew at the fastest rate since the end of 2018.
• Sep's gains were widely linked to the easing of Covid-19 lockdown measures and the reopening of the UK economy.
• However, the report also posted a sharp increase in candidate availability due to redundancies which in turn dampened pay trends.
• Starting salaries for permanent workers fell further in Sep, even at a faster rate than in in Aug, while temp wages declined only modestly.
• Vacancies rose for the first time since Feb, although only marginally, driven by the uptick in demand for permanent and temporary workers.