Labour market conditions soften, according to latest Jobs Report from KPMG/REC

Despite permanent staff appointments declining at quickest rate for over three years (source: KPMG / REC Report on Jobs, Sep 19), we see the procurement recruitment market remaining buoyant.
It’s an interesting market for many recruitment agencies; the latest KPMG and REC Report on Jobs indicated that labour market conditions softened in August. According to their latest report, permanent placements fell at the quickest rate for over three years as many employers chose to postpone staff hiring amid heightened political and economy uncertainty. Temp billings growth meanwhile remained stuck close to a 75-month low. See the KPMG and REC Jobs report bulletin here.

However, the latest Office of National Statistics (ONS) labour market statistics, show the continued strength of the UK’s jobs market, with the employment rate at a joint-record high of 76.1%. The unemployment rate was 3.8%, the lowest since October to December 1974. According to Tom Hadley, Director of Policy and Campaigns at the Recruitment & Employment Confederation: “The UK’s labour market has been a key part of our economic success, and as today’s figures show, it remains in a strong position with a joint-record high rate of employment. But we cannot take this for granted. Business confidence is low, vacancy numbers are down, and our own data shows that the continued uncertainty is starting to have an effect on placements.” See the latest REC view on the ONS labour market statistics here.

At Beaumont we have been fortunate; effective procurement and supplychain functions are fundamental to success in a fast changing political and economic environment and despite a slight softening of overall activity, our clients continue to make plans, looking to strengthen their procurement teams with the best talent they can find. We have also developed new relationships with several great new clients, so overall the picture at Beaumont is for a surprisingly buoyant end of year and moving into 2020.


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