Via the latest Recruitment and Employment Confederation (REC) and KPMG survey
- growth in starting pay for permanent roles was the lowest since February 2021.
- monthly index of permanent job placements continued a two-year decline, though the hiring drop was less severe than in August.
- increase in available candidates for roles
- vacancies dropped for the 11th consecutive month at the fastest rate since March.
Factors cited included
- Companies face uncertainty regarding tax and economic policies ahead of finance minister Rachel Reeves' first annual budget on October 30.
- Reeves has hinted at potential tax increases to support public services and investment
Implications of the survey results:
- KPMG said easing pay pressures could support further interest rate cuts by the Bank of England (BoE) in November.
