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October Report on Jobs

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The latest Report on Jobs from KPMG and the Recruitment and Employment Confederation, which Cavill Robinson contributes to, came through this week. 

James Stewart, Vice Chair for KPMG commented:

"Brexit uncertainty continues to take its toll on the jobs market, evident by the quickest drop in permanent placements in over three years as employers delay hiring staff. Given the current climate, it’s not a surprise but is still a concern to see that the demand for staff  increased at the slowest rate since 2012 – and that people are reluctant to seek new roles. On the plus side however, the latest decline in staff supply was the least marked for over two and a half years amid greater competition, softening the pressures on pay.

“Looking ahead and with investment also contracting, businesses desperately need clarity on Brexit outcomes in order to re-build confidence in the jobs market and be able to make more informed decisions on their long-term hiring plans.”

Neil Carberry, Chief Executive of the Recruitment &
Employment Confederation, said:

 

“Today’s figures are a sobering reminder to politicians of all parties that national prosperity relies on businesses creating jobs and growing careers. Britain’s record on jobs is world-leading. It’s a key part of our economic success, with recruiters at the forefront of it. And there are still great opportunities out there for those looking for a new job and a boost in earnings.But all this rests on business confidence – the confidence to invest, to hire someone, to try something new – and it’s clear that things are getting harder. Permanent placements have now dropped for six months in a row and vacancy growth is slowing. While we continue to benefit from the flexibility of our jobs market as demand for temps holds steady, today’s survey emphasises the real world impacts of the political and economic uncertainty businesses are facing.
 

“The first priority should be avoiding a damaging no-deal Brexit and giving some stability back to British businesses, so they can drive the prosperity of the whole country. "

Jeanette Robinson, Managing Director of Cavill Robinson Financial Recruitment said:

The Cambridge market is seeing some slowdown due to the current uncertainties around the political situation but the main issue for recruiters is people deciding not to change jobs as they view it as a risk in the current climate. This combined with an unemployment rate below the national one means that for those companies seeking new staff, it is still imperative to think carefully about salary levels to attract good candidates.

Overall, we need the politicians both in Westminster and Brussels to come to an agreement on the way forward so that businesses can be clear of the way forward.