UK Hiring Turns a Corner After Longest Slump on Record, REC Says

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessUK Hiring Turns a Corner After Longest Slump on Record, REC SaysHiring at British businesses held steady in July, ending a downturn stretching back to the Liz Truss crisis in 2022, according to a closely watched survey.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.7jozzswlmm]ftcbd5htu3b2[_media_dl_1.png Recruitment & Employment Confede(Bloomberg) — Hiring at British businesses held steady in July, ending a downturn stretching back to the Liz Truss crisis in 2022, according to a closely watched survey.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Recruitment & Employment Confederation and KPMG hailed the improvement as a major “milestone” after 45 months of contraction since the market-crashing budget that cost the then prime minister her job.Many employers pressed ahead with new projects last month despite uncertainty over the outlook, temporary vacancies rose for the first time in two years and pay growth ticked up, the report published Monday found. Meanwhile, demand for full-time workers declined at a slower pace.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIt capped the longest downturn in permanent staff placements since records began in 1997. Firms appear to be moving past a period marked by increases in employment costs, political upheaval at home, US trade disputes and the shock inflicted by the Iran war. “Rays of light are beginning to break through for the job market,” said Maxine Bligh, chief membership and innovation officer at the REC.Callum Licence, group head of advisory, KPMG UK and Switzerland, said that “across the board we are starting to see the data moving in the right direction.”The figures are an early gift for Prime Minister Andy Burnham, who took office last month pledging to tackle youth unemployment and deliver economic growth to every part of the country. Bank of England officials are looking to the labor market for signs of second-round effects from the Iran energy shock. So far, pay growth has remained muted although pressures may only start to show up later this year.The REC survey showed wage growth accelerating to a six-month high. The pace, however, remained below the long-run trend as redundancies and a lack of job opportunities fueled an increase in jobseekers.Starting salaries were driven by employers competing for experienced candidates, recruiters said. It chimes with figures from Indeed showing that AI is creating a two-tier jobs market, as firms look for senior staff with tech skill while cutting back elsewhere. Demand for permanent staff continued to decline in July, albeit at the softest pace since September 2024. Vacancies in retail and hospitality contracted at the sharpest rate, while medical care, engineering and IT businesses recorded an increase in postings.Licence, however, cautioned that a sustained recovery in the labor market relies in the decisions Burnham takes, particularly in his first budget in October.“With a new government in place, businesses will be looking for signs that the new policies can translate into greater confidence to invest and hire,” he said.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.