UK Permanent Job Placements Hit 50.0 in July, Ending 45-Month Downturn
Updated
Updated · Yahoo Finance · Aug 10
UK Permanent Job Placements Hit 50.0 in July, Ending 45-Month Downturn
3 articles · Updated · Yahoo Finance · Aug 10
Summary
Britain’s permanent job placements index rose to 50.0 in July from 49.1, the first non-contraction reading after 45 months of decline and an early sign the labour market is stabilising.
Recruiters also reported stronger pay pressure: starting salaries for new permanent hires grew at the fastest pace in six months, while temporary-role pay hit a 26-month high.
Temporary hiring stayed in expansion territory at 51.9, though down from 52.7 in June, and temporary vacancies increased for the first time in two years.
Around 400 recruitment agencies surveyed between July 9 and July 27 said staff availability was still rising, but the supply of temporary workers increased by the smallest amount since May 2023.
The mixed but firmer readings come as Prime Minister Andy Burnham’s new government takes office and as the Bank of England watches wage growth closely for inflation risks.