🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UK firms step up hiring of permanent staff in December - REC

Published 09/01/2015, 00:49
© Reuters. City workers head to work during the morning rush hour in London

LONDON (Reuters) - British firms hired permanent staff through recruitment companies at a faster rate in December although growth in starting salaries eased slightly, an industry survey showed on Friday.

Overall, Britain's labour market was in good shape heading into 2015, according to the Recruitment and Employment Confederation (REC) and KPMG's monthly report on jobs.

For temporary staff, it showed hiring and starting salaries rising last month at a faster rate than in November.

But the survey also suggested that the pace of hiring could slow as the number of job vacancies for permanent roles rose at the slowest pace since July 2013.

"Economic growth for 2015 looks sustainable, however the concern now is that political uncertainty could spook the market as we approach a general election," said REC chief executive Kevin Green, echoing a similar warning from the British Chambers of Commerce on Thursday.

The Bank of England is watching the labour market closely as it weighs up when to raise interest rates from their record low 0.5 percent, and so are political leaders ahead of a national election on May 7.

© Reuters. City workers head to work during the morning rush hour in London

Wage increases recently overtook the rate of inflation, but a turnaround in living standards may prove to be too little, too late for Prime Minister David Cameron's ruling Conservative Party.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.