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Pace of UK hiring slows in May: REC recruiters group
[LONDON] The pace of permanent staff placements by recruitment agecnies in Britain slowed in May as companies assessed the outcome of national elections held during the month, a survey showed on Friday.
The rate of expansion sank to a four-month low and the number of vacancies rose at the slowest rate in 2015 so far, acccording to the survey from the Recruitment and Employment Confederation (REC) and audit and tax firm KPMG.
Starting salaries for people placed into permanent jobs grew but at a slower pace from April's nine-month high.
Hourly pay for temporary and contract staff rose at the slowest pace since January. "The UK job market saw a slight slowdown in May, as those on boards took time to digest the election result and work out the ramifications for their business," Bernard Brown, a partner at KPMG, said.
The Bank of England is watching Britain's labour market closely as it considers when to start raising interest rates from their record low of 0.5 per cent.