Recruiters are reporting the toughest conditions in the British jobs market since the Covid-19 pandemic, with no sign of employers regaining confidence to hire following Rachel Reeves’ tax-raising Budget in October.
A monthly survey by KPMG and the Recruitment & Employment Confederation, published on Monday, points to the most widespread weakening in demand for staff since August 2020, with the survey’s vacancy index falling from 42.9 in December to 41.6 in January.
Any reading below 50 means the share of recruiters reporting a weakening in the market outweighs the share reporting improving conditions.
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