"The latest KPMG and REC, UK Report on Jobs: London survey noted that the downturn in hiring activity continued into August, with both permanent placements and temp billings falling further. However, in both cases rates of reduction eased sharply from those seen in July. Nonetheless, demand for workers continued to deteriorate, while the supply of candidates across the capital rose markedly. Many comments from recruiters attributed this increase in supply to redundancies, highlighting a challenging environment for job seekers."
"At the same time, more people are looking for work, and in August the rise in candidate availability was the fastest we've seen in over two years and higher than the national average. That makes it a tough market for jobseekers, but it gives employers a real chance to tap into a wide pool of experienced talent. With pay pressures relatively subdued, those businesses that are ready to invest now will be in a strong position to secure the skills they need for the future."
Hiring activity in London continued to decline in August, with both permanent placements and temporary billings falling further. Rates of reduction eased sharply from July, indicating a slowing pace of decline. Demand for workers deteriorated while candidate supply rose markedly, with recruiters attributing increased availability to redundancies. Candidate availability rose at the fastest rate in over two years and exceeded the national average. The slowdown in hiring stretched the run of reduced permanent placements to five months, though the seasonally adjusted permanent placements index reached a four-month high and was above the national average. Pay pressures remained subdued.
Read at London Business News | Londonlovesbusiness.com
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