The latest KPMG and REC, UK Report on Jobs: London indicates a sharp decline in permanent placements for August, highlighting the ongoing challenges in the job market.
The downturn in hiring activity was accompanied by a cooldown in inflation of permanent new salaries, which eased to a five-month low, indicating a softening labour market.
Demand for workers also showed signs of weakness midway through the third quarter, with a fresh, albeit fractional drop in permanent vacancies reversing growth seen previously.
August data revealed a renewed and sharp fall in permanent placements, attributed to a lack of suitable candidates and fewer vacancies, signaling critical labor market challenges.
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