LONDON (dpa-AFX) - UK recruitment activity dropped a softer pace in May, while candidate supply grew at the sharpest pace in eight months, data published by S&P Global showed on Friday.
Permanent job placements decreased at a slightly sharper pace in May, while temp billings declined at the slowest pace in six months, the KPMG/REC Report on Jobs revealed. Recruiters said weaker confidence around the outlook and concerns over costs dampened hiring.
At the same time, candidate availability continued to increase and at the steepest rate since December 2020. There were quicker increases in the supply of both permanent and temporary staff.
Meanwhile, total vacancies decreased at the weakest pace since last September. Softer reductions were signaled for both permanent and temporary vacancies.
Regarding wages, the survey showed that salaries awarded to new permanent joiners grew further in May. The salary inflation was the fastest seen since last August. Temp wage growth hit a one-year high. Nonetheless, the rate of inflation remained below their respective long-term averages, the survey showed.
'More encouraging signs in temp billings, vacancies, and stabilizing private sector demand offer a measure of optimism as we head into the second half of the year,' REC Chief Executive Neil Carberry said.
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