The Recruitment and Employment Confederation has published its latest report on the UK labour market, drawing on original survey data provided by recruitment consultancies.
The IHS Markit/REC Report on Jobs notes that the number of people placed into permanent job roles continued to rise markedly in April. That said, the pace of expansion was the softest seen in 2018 so far. In contrast, growth of temp billings picked up from March’s 13-month low.
Candidate availability for both permanent and temporary roles declined further at the start of the second quarter. Furthermore, the rates of reduction quickened to three- and five-month records, respectively.
Growth of overall job vacancies picked up to a three-month high in April. Permanent staff demand grew at a sharper pace compared to the previous month, while short-term staff vacancies expanded at a slightly softer (but still marked) pace.
Starting salaries for permanent workers continued to rise sharply in April, with the rate of inflation picking up from March. Concurrently, rates of pay for contract/temporary staff rose to the greatest extent for two years.
REC director of policy Tom Hadley says:
“For employers, the challenge is to stay ahead of the competition to maintain and enhance your workforce. This is about more than just pay, it is about providing progression opportunities and a positive workplace culture. As recruitment gets harder the only solution for employers is to get better at attracting and retaining the right skills and staff."