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Hiring Trends - Job Report for February 2019

Hiring Trends - Job Report for February 2019

KPMG and REC UK Report on Jobs Summary – March 2019

 

Summarised findings from throughout February 2019 published in the REC Report on Jobs Summary.


“Overall the labour market has been incredibly resilient over the last couple of years as employers have opted to hire more permanent and temporary staff rather than invest in long term productivity gains. However in 2019 Brexit uncertainty is having an opposite and chilling effect on the jobs market with firms reassessing their level of risk.

 

With a decision on Brexit now imminent we’re seeing companies freeze or slow the pace of new hires, whilst at the same time the number of people looking to enter the jobs market has declined further. Vacancy growth is now back to the levels we saw around two and a half years ago.

 

With unemployment at its lowest level since 1975, widespread skill shortages are also cooling the jobs market with the most acute issues to be found in sectors such as It, Engineering and Nursing. This means candidates with the right skills are commanding ever higher premiums and pay growth is now at a 10 year high. This has seen pay outstripping living costs meaning people feel better off.

Once a political decision is made on Brexit we expect a wave of pent-up investment to be released in parallel with a renewed focus on cost reduction. This should result in another busy time for the jobs market later this year.’  James Stewart, Vice Chair at KPMG

 

‘The resilience of employers and the British jobs market shines through in today’s Report on Jobs. While numbers are clearly weaker than we have seen over the past few years, the survey suggests businesses are ready to create jobs if the investment environment is right. Recruiters are playing a crucial role in helping their clients fill gaps. As we draw closer to Brexit day, uncertainty and concern has grown, putting the sustainability of positive jobs news at risk. Firms are looking for politicians to find a solution to the current deadlock that gives them the certainty they need to invest and create jobs.’ Recruitment & Employment Confederation chief executive Neil Carberry

               

Key Points form the February Survey:

  • Permanent placements stagnate in February
  • Candidate availability declines further
  • Vacancies expand at slowest rate for 29 months
  • Pay growth eases but remains marked

 

The skills shortages reported within Accountancy/Finance permanent roles during February 2019 are:

  • Accountants
  • Accounts
  • Auditors
  • Banking
  • Book Keepers
  • Credit Controllers
  • Estimators
  • Finance
  • Payroll
  • Pensions Admin
  • Risk
  • Tax Accountants
  • Underwriters

 

·         The skills shortages reported within Accountancy/Finance temporary roles during February 2019 are:

  • Accountants
  • Accounts
  • Banking
  • Credit Controllers
  • Finance
  • Finance Directors
  • Payroll
  • Pensions Admin
  • Tax Accountants

 

 Click here for more information on the REC and KPMG March 2019 Report on Jobs Summary

Follow us on Twitter for more Financial and Recruiting News @CMCConsultingUK

 

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