UK Report on Jobs - March 2022

18 April 2022

The main findings from the latest UK Report on Jobs, sponsored by KPMG and the REC (Recruitment & Employment Confederation), are as follows (the full report is available on request):

March sees further slowdown in hiring activity

Latest survey data pointed to softer expansions in both permanent staff appointments and temp billings across the UK in March. Though elevated by historical standards, rates of increase fell to 12- and 11-month lows, respectively. Recruiters frequently mentioned that candidate shortages continued to weigh on their ability to fill vacancies.

Steepest drop in total staff supply since last November

The overall availability of workers in the UK continued to fall rapidly at the end of the first quarter. Notably, the rate of contraction was the steepest seen for four months, with a slightly quicker drop in permanent candidate numbers offsetting a softer fall in temp labour supply. Panellists often mentioned that a generally low unemployment rate, uncertainty related to the pandemic and Ukraine war, fewer EU workers and robust demand for staff had limited worker availability.

Starting salary inflation hits new record

Recruitment consultancies signalled a further increase in permanent starting salaries in March. Moreover, the rate of inflation was the sharpest in 24-and-a-half years of data collection amid reports of intense competition for staff. Average wages for temp workers also rose in March, and at a rapid pace that was the quickest for three months.

Demand for staff increases at fastest rate for six months

Overall vacancies rose for the fourteenth month in a row in March, and at the quickest rate since last September. Recruiters indicated stronger rises in both permanent and temporary staff demand in the latest survey period, with the former noting the steeper rate of growth.

Hopefully this will provide you with an excellent insight into a myriad of critical recruitment topics including hiring activity, candidate availability and salaries. As you strive to keep your current employees happy and attract the best new talent to help your company grow you may find some of the content very useful.

If you want to discuss any of the above or any other recruitment-related issues then please don’t hesitate to contact us on 0121-585 6079.

Swindale Parks is over 30 years old as a business – we have lots of experience to share.