Hiring activity expanded solidly during November with temp billings continuing to rise strongly and rates of pay softening only slightly from October’s all-time record.
The KPMG and REC’s latest UK Report on Jobs revealed that it was the capital that recorded the quickest increase in temp billings of all four monitored English regions during last month.
Looking at a sector analysis, all ten monitored categories registered steep increases in temporary vacancies, which was led by Hotel & Catering.
Neil Carberry, Chief Executive of the REC, said, “Today’s figures emphasise again how far we have come this year – it is certainly a great Christmas if you’re looking for a job. This is always the busiest part of the year for recruiters, but demand for new staff across the autumn has been exceptional. Because of this high demand, starting salaries and temp rates continue to rise, making it even more attractive to be looking for a new opportunity in 2022. Hiring companies will need to make sure they get their offer right – not just on pay – and take an inclusive approach if they are to avoid losing out.”
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Email Jaime“It’s too early to tell what the effect of the Omicron variant might be on the labour market – December may be slower than previous months as its effects feed through. Hospitality will be at the forefront of any changes as we approach the festive season, of course, and the impact of high inflation will also be felt as purses tighten in January. But the broader outlook is more positive for candidates, suggesting that the labour market will remain tight for some time to come.”
Claire Warnes, Head of Education, Skills and Productivity at KPMG UK, added, “The data points to a strong end to the year, but that hunger to expand could be tested as the jobs market becomes ever tighter. The pace of demand for workers is running far faster than supply can keep up with, which is draining an already diminished pool of available talent and feeding into inflationary pressures.”
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