"London's job market showed some tentative signs of stabilising in October, but the overall picture remains fragile. Employers are cautious, reflecting ongoing economic uncertainty and a continued focus on managing costs in the short term. Many are biding their time ahead of the Autumn Budget in a few weeks' time."
"For those businesses who are planning beyond the short term, the combination of slowing salary inflation for permanent staff and more professionals entering the market is creating a valuable opportunity for those willing to invest to secure the talent and skills they'll need for the future."
"There's growing momentum around this kind of longer-term workforce planning. The launch of London's Inclusive Talent Strategy, a comprehensive plan that places future skills at the heart of the capital's economic growth, is a timely reminder that while short-term challenges persist, London is already looking ahead to build a more resilient, inclusive and future-ready jobs market."
London experienced a further streamlining of payroll numbers in October, with permanent placements falling solidly though the pace of decline slowed slightly from September. Temp billings contracted at the mildest rate in five months, easing markedly. Rapid reductions in vacancies and reported redundancies increased the supply of permanent and short-term workers. Employers raised pay at softer rates amid increased candidate availability. The survey was compiled by S&P Global from around 100 recruitment and employment consultancies in London. Employers remained cautious due to economic uncertainty and cost management ahead of the Autumn Budget, while longer-term workforce planning and an Inclusive Talent Strategy aim to bolster future skills.
Read at London Business News | Londonlovesbusiness.com
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