The latest KPMG and REC UK Report on Jobs indicates that London's employment landscape is softening, with permanent job placements decreasing and vacancies falling at an accelerated rate. Companies are adopting a cautious recruitment approach amid economic uncertainty, resulting in a marginal drop in temporary billings. Increased redundancies are contributing to a larger pool of candidates, which heightens competition for roles. Meanwhile, while the wage increase for permanent positions has slowed, temporary wages are rising sharply. Overall, London remains relatively resilient compared to other regions due to its diverse economic base.
After a short-lived period of renewed optimism, London's job market has softened once again, with permanent placements declining and vacancies falling at a sharper pace.
The increase in candidate availability - largely the result of redundancies - is intensifying competition for roles but also expanding the recruitment pool for businesses looking to bring in fresh talent.
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