News
Summary of the latest report
The latest Report on Jobs continued to signal falling levels of recruitment activity in March. Amid reports of hiring freezes and cost cutting at clients, recruitment consultants signalled another marked decline in permanent placements as well as the steepest contraction in temp billings since July 2020. Latest data signalled a fifth consecutive monthly decline in the demand for staff, with the rate of contraction only slightly slower than February's 37-month record. With demand falling, and evidence of a greater number of redundancies, overall candidate supply increased at the steepest pace for four months. This weighed on pay growth. Starting salaries rose at their slowest rate for over three years, whilst temporary wage inflation eased to a four-month low.
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