Rapid, albeit slightly softer decline in new permanent joiners
Availability of workers expands at sharp pace
Hourly wages fall for the first time in 44 months
Commenting on the latest survey results, Emma Gibson, Reading Office Senior Partner at KPMG UK:
The South of England's job market is facing a perfect storm of challenges. Hiring is down, vacancies are falling, and worker availability is rising, creating an imbalance in the market which has put downward pressure on wages.
This latest survey data was gathered before the rate cut, and it gives a subdued picture of the labour market as the downturn moves into its second year. It remains to be seen whether the stability of a new Government and easing inflationary pressures will have a positive impact on the labour market in the South.
Comments