Temporary vacancies rise for first time in two years, permanent job placements stabilise and temporary billings rise further
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There are signs of improvement in the UK jobs market, with an upturn in pay and the first rise in temporary vacancies in two years as employers sought more flexibility.
Despite ongoing uncertainty it’s encouraging that businesses are starting to press ahead with investment, which means across the board we are starting to see the data moving in the right direction. This is most pronounced in the continued rise of temporary work, where employers have been looking at flexible approaches and hiring has been growing for several months, and permanent hiring is starting to turn a corner.
Rays of light are beginning to break through for the job market as employers revive hiring plans. Temporary vacancies are up for the first time in two years, while recruiters’ revenue from supplying temporary workers has risen for a fourth consecutive month.
Remarkably, this is the first month without a decline in permanent placements since Liz Truss resigned as prime minister in 2022, underlining just how prolonged the downturn in permanent hiring has been. That makes it all the more important that the government takes decisions now that build business confidence and momentum in hiring.
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