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UK Permanent Staff Hiring Picks up, Wages Firm – REC

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Hiring of permanent staff via British recruitment firms increased at the fastest pace in four months in October and starting salaries also picked up, according to a survey that pointed to a further recovery in the labour market.

After worries about a new, higher minimum wage prompted a sharp slowdown in hiring in September, policymakers will be heartened by the latest monthly report from the Recruitment and Employment Confederation (REC) and accountants KPMG.

But staff availability continued to decline at a sharp pace and growth of permanent salaries picked up in October after hitting a 20-month low in September.

Britain’s labour market recovery is key to the outlook for the Bank of England as it gauges when to raise interest rates from record low levels.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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