Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK Recruiters warn Bank of England of permanent hiring dip due to economic uncertainty

by December 8, 2023
December 8, 2023
UK Recruiters warn Bank of England of permanent hiring dip due to economic uncertainty

UK recruiters have warned the Bank of England of a dip in permanent hiring across UK businesses as organisations grapple with ongoing economic turbulence, according to a new report.

KPMG and the Recruitment and Employment Confederation (REC) collected data on the state of the UK jobs market for their latest UK Report on Jobs, observing a decline in the hiring landscape during November.

The REC attributed the dip to economic uncertainty and hesitancy to commit.

The report highlighted a growing disparity between the availability of new job candidates, increasing at the fastest rate since December 2020, and the number of permanent staff hires, which has fallen at the second fastest rate post-pandemic.

It was also found that London saw the sharpest decline in permanent hires across the UK.

Derek Mackenzie, CEO of Investigo, part of The IN Group, commented: “As we approach the new year, bimodal planning has become a popular trend for businesses to navigate economic uncertainty, balancing short-term plans with longer-term business strategies. Pressing business challenges such as generative AI won’t wait for the economy, so it’s important that organisations invest in staff to oversee its development in order to secure their long-term business health.”

Sectors such as technology are already facing a shortage of skills, and when it comes to staff, organisations need digital recruits that can help boost efficiencies, stay on top of emerging trends in areas such as gen AI and data, and ultimately generate revenue for the business.

There are a number of different ways for businesses to hire digitally skilled staff without breaking the bank such as flexible contracts or hiring at an entry-level, but it’s important that organisations invest in people regardless of the economic situation. Unlocking the potential of people through their unique skillsets is key to success” he added.

Despite competition for skilled workers, budgetary pressures due to the economy meant that starting salaries and temporary pay saw slower rises compared to previous months.

The news comes ahead of the Bank of England’s decision on interest rates on December 14. The Bank is expected to keep interest rates unchanged at 5.25 per cent.

Read more:
UK Recruiters warn Bank of England of permanent hiring dip due to economic uncertainty

0
FacebookTwitterGoogle +Pinterest
previous post
Top Republicans raise concerns over Eventbrite’s policies as ‘antisemitic’ events remain visible
next post
Soros’ foundation funds nonprofit that finances pro-Palestine protests: Watchdog group

You may also like

Getting to Know You: Michael Troeger, Educator and...

February 13, 2023

Germany tips into recession with analysts warning economy...

May 25, 2023

Marketing for Business Expansion: A Strategic Framework for...

January 18, 2023

Half of UK front gardens under threat as...

August 23, 2023

Americans reduce retail spending as US inflation bites

December 16, 2022

Forty percent of female entrepreneurs report gender-based discrimination

April 17, 2024

Unloc and Verizon launch Young Entrepreneurs Challenge 2025...

September 30, 2024

Lobby group urges Rachel Reeves to rethink non-dom...

October 13, 2024

Important things to consider before starting a construction...

December 20, 2023

Monzo Achieves First Annual Profit Despite Surge in...

June 3, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025
    • TIMELINE: Inside the evolving relationship between Trump and Musk from first term to this week’s fallout

      June 7, 2025
    • Deadly drone wars are already here and the US is horribly unprepared

      June 7, 2025
    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,564)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved