More candidates fighting for fewer jobs as businesses ‘hold back on hiring’
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Job searching has become a lot more competitive
- A new survey by KPMG and REC reveals that the number of jobseekers in the UK has reached its highest point since 2020, with candidate availability increasing at the fastest rate in over four years.
- The survey, based on data from 400 recruitment agencies, indicates a reduction in recruitment activity by companies in May, with permanent placements decreasing.
- Redundancies and fewer job opportunities are cited as contributing factors to the increase in jobseekers.
- Despite a slowdown in wage growth to 5.6 per cent in the three months to March, wages continue to outpace inflation, rising 2.6 per cent when adjusted for the Consumer Prices Index.
- Experts, like Nye Cominetti from the Resolution Foundation, express concern over the figures, attributing the situation to recent tax policies, such as the rise in employer National Insurance.