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Cavill Robinson Financial Recruitment contributes to the Report on Jobs each month, which is produced by KPMG and the Recruitment and Employment Confederation. This month's key findings are:
- There has been a solid drop in permanent staff appointments and only a slight rise in temporary billings.
- Vacancy growth eases to a 93 month low
- Pay continues to rise as candidate availability falls again.
"Businesses are still waiting to hear that starting gun, and until there is some certainty around Brexit and now the election, employers continue to stall on creating vacancies and making permanent hires.
“It’s not just businesses that are being cautious, however, and over October we’ve seen jobseekers become increasingly nervous about making a career change. The lucky few that do find jobs are continuing to demand higher pay as reflected in the rise in starting salaries and temp pay.
“The IT and computing sector threw caution to the wind last month as the best performer in vacancy growth. Meanwhile, the medical sector is not far behind, and we also saw a sharp increase in the demand for temp staff in this sector.”
Neil Carberry, Chief Executive of the Recruitment &
Employment Confederation, said:
“These figures underline why this needs to be a jobs election. The labour market is strong, but permanent placements have now dropped for eight months in a row, and vacancies growth has fallen to its lowest level since January 2012. One bright spark is the temporary labour market, which continues to provide flexible work to people and businesses that need it during troubled times.
“Ending political uncertainty and getting companies hiring again is vital – but we must also look to the long term future of work. Jobs must be front and centre during this election campaign, and we will be launching our REC manifesto for work next week. We will be urging all political parties to run on policies which support and enhance the UK’s flexible labour market – allowing businesses to create jobs, employees to build careers and the economy to grow.
Jeanette Robinson, Managing Director at Cavill Robinson Financial Recruitment said:
"We are now seeing a market, which is increasingly being affected by people's unwillingness to move due to political uncertainty. This coupled with the extremely low unemployment rate within the Cambridgeshire market and surrounding areas is driving fast wage growth. This needs to be factored into any company's budget preparations for next year as the success of the local market in creating jobs will ensure this continues."