Latest news with #NeilCarberry
New Straits Times
a day ago
- Business
- New Straits Times
UK hiring slows again in May but downturn might be easing
LONDON: British businesses hired staff at a slower pace in May as demand for staff fell for an eighth consecutive month, but there were some signs that the downturn was beginning to bottom out, a survey of recruiters showed on Friday. The Recruitment and Employment Confederation said its members reported a further big fall in hiring for permanent jobs but spending on temporary staff fell by the least in six months. "More encouraging signs in temp billings, vacancies and stabilising private-sector demand offer a measure of optimism as we head into the second half of the year," REC Chief Executive Neil Carberry said. Britain's labour market is facing headwinds including weak economic growth, a sharp rise in employers' social security contributions and a near-7% rise in the minimum wage which took effect in April. Tax data showed that the number of employees on company payrolls dropped by the most in five years last month, while the unemployment rate for the three months to April rose to its highest in nearly four years at 4.6 per cent. REC said its members reported that the number of candidates seeking work had increased at the fastest pace since December 2020 last month "amid reports of redundancies and fewer job opportunities." The Bank of England - which is expected to keep interest rates on hold next week - has said that developments in the labour market will be key to determining how fast it lowers interest rates. Private-sector regular pay growth slowed to 5.1 per cent in the three months to April from 5.5 per cent in the first quarter of 2025 but still remains well above levels the BoE views as consistent with getting inflation back to its 2 per cent target. REC said starting salaries for permanent staff had picked up in May to rise at the quickest pace since August 2024 and that wages for temporary staff rose by the most in a year. But - unlike the official wage data - REC said its measures of pay growth remained below their long-run averages.
Business Times
2 days ago
- Business
- Business Times
UK hiring slows again in May but downturn might be easing, recruiters say
[LONDON] British businesses hired staff at a slower pace in May as demand for staff fell for an eighth consecutive month, but there were some signs that the downturn was beginning to bottom out, a survey of recruiters showed on Friday. The Recruitment and Employment Confederation said its members reported a further big fall in hiring for permanent jobs but spending on temporary staff fell by the least in six months. 'More encouraging signs in temp billings, vacancies and stabilising private-sector demand offer a measure of optimism as we head into the second half of the year,' REC chief executive Neil Carberry said. Britain's labour market is facing headwinds including weak economic growth, a sharp rise in employers' social security contributions and a near-7 per cent rise in the minimum wage which took effect in April. Tax data showed that the number of employees on company payrolls dropped by the most in five years last month, while the unemployment rate for the three months to April rose to its highest in nearly four years at 4.6 per cent. REC said its members reported that the number of candidates seeking work had increased at the fastest pace since December 2020 last month 'amid reports of redundancies and fewer job opportunities'. The Bank of England - which is expected to keep interest rates on hold next week - has said that developments in the labour market will be key to determining how fast it lowers interest rates. Private-sector regular pay growth slowed to 5.1 per cent in the three months to April from 5.5 per cent in the first quarter of 2025 but still remains well above levels the BoE views as consistent with getting inflation back to its 2 per cent target. REC said starting salaries for permanent staff had picked up in May to rise at the quickest pace since August 2024 and that wages for temporary staff rose by the most in a year. But - unlike the official wage data - REC said its measures of pay growth remained below their long-run averages. REUTERS
Reuters
2 days ago
- Business
- Reuters
UK hiring slows again in May but downturn might be easing, recruiters say
LONDON, June 13 (Reuters) - British businesses hired staff at a slower pace in May as demand for staff fell for an eighth consecutive month, but there were some signs that the downturn was beginning to bottom out, a survey of recruiters showed on Friday. The Recruitment and Employment Confederation said its members reported a further big fall in hiring for permanent jobs but spending on temporary staff fell by the least in six months. "More encouraging signs in temp billings, vacancies and stabilising private-sector demand offer a measure of optimism as we head into the second half of the year," REC Chief Executive Neil Carberry said. Britain's labour market is facing headwinds including weak economic growth, a sharp rise in employers' social security contributions and a near-7% rise in the minimum wage which took effect in April. Tax data showed that the number of employees on company payrolls dropped by the most in five years last month, while the unemployment rate for the three months to April rose to its highest in nearly four years at 4.6%. REC said its members reported that the number of candidates seeking work had increased at the fastest pace since December 2020 last month "amid reports of redundancies and fewer job opportunities". The Bank of England - which is expected to keep interest rates on hold next week - has said that developments in the labour market will be key to determining how fast it lowers interest rates. Private-sector regular pay growth slowed to 5.1% in the three months to April from 5.5% in the first quarter of 2025 but still remains well above levels the BoE views as consistent with getting inflation back to its 2% target. REC said starting salaries for permanent staff had picked up in May to rise at the quickest pace since August 2024 and that wages for temporary staff rose by the most in a year. But - unlike the official wage data - REC said its measures of pay growth remained below their long-run averages.
Scotsman
12-05-2025
- Business
- Scotsman
1,000 jobs created in wind power and Heathrow's busiest-ever April as numbers boom
Opinion: Too many jobseekers, not enough jobs - what next for UK hiring? The UK labour market is kind of sending mixed signals. Recruiters say the number of people chasing advertised jobs has surged, not because opportunities are booming, but because businesses are laying off staff and freezing recruitment. According to research from 400 agencies, April saw a marked weakening in demand for new hires. It's a sobering reality for jobseekers, made worse by the uncertainty employers face when it comes to payroll taxes and regulation, not to mention global events. As Neil Carberry, of the Recruitment and Employment Confederation puts it, the latest figures are "on the good end of our expectations" - but you might argue that says more about how low expectations have sunk. There's still hope for a rebound later in the year, but it hinges on more than just market forces. If the Government is serious about getting Britain working again, now's the time to act, and it's going to require something new, innovative and dramatic. Because while legislation like the Employment Rights Bill might be welcome from a moral standpoint, it probably isn't going to help one bit on the recruitment front.
The Independent
12-05-2025
- Business
- The Independent
Increase in candidates for jobs, study suggests
The number of candidates for advertised jobs has increased substantially, according to recruiters. The recent increase was largely because of job losses amid company restructuring efforts and redundancies, as well as a reduction in recruitment activity, according to research among 400 recruitment agencies. Demand for staff weakened in April, said the Recruitment and Employment Confederation (REC) and KPMG. Neil Carberry, REC chief executive, said: 'Given the wave of costs firms faced in April, maintaining the gradual improvement in numbers we have seen over the past few months is on the good end of our expectations. 'While we are yet to see real momentum build, hopes of an improving picture in the second half of the year should be buoyed by today's data. 'The biggest single drag factor on activity right now is uncertainty. Some of that can't be helped, but payroll tax costs and regulation design is in the Government's gift. 'Businesses have welcomed positive discussions with ministers on the Employment Rights Bill, but now it is time for real changes to address employers' fears and boost hiring. 'A sensible timetable and practical changes that reduce the red tape for firms in complying with the Bill will go a long way to calming nerves about taking a chance on someone.'
