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August Jobs Outlook

Each month REC conducts in depth analysis and insight into the UK’s labour with detailed responses from employers about workforce planning and demand for both temporary and permanent staff to create a UK Market Jobs Outlook.

The latest August edition which looks in detail at the REC’s July survey of UK employers and recruitment businesses, is a welcome positive indicator of UK employment and business sentiment coming off the back of the Brexit decision in July. Highlights include:

Confidence remains steady

One major point that came from the July Survey is that employer confidence in hiring and investment decisions remained steady, with four in ten (37%) of employers stating that their organisation expects circumstances to improve.

Permanent Recruitment

These sentiments from employers translate positively as expectations around bringing in additional permanent staff both in the short and medium term are strong.

In the short term, the proportion of employers planning to decrease the number of permanent workers remained at 3%. Conversely, 24% were planning to increase permanent headcount and 64% were planning to maintain existing levels.

In the medium term 26% of employers were planning to increase headcount in the medium term, up from 21% reported last month and 60% were planning to hold existing levels of permanent workers.

Temporary recruitment

In the short term, 12% of employers expected to increase temporary headcount, consistent with the proportion who reported this in the last rolling quarter.

In the three months to July almost three quarters (73%) of respondents remained confident that they would hold (60%) or increase (13%) temporary agency workers headcount in the medium term.

In summation the August Jobs Outlook provides an indicator that the labour market is holding steady post Brexit and in the medium term looks to improve. Employers confidence in hiring and investing remaining consistent, and forecasts (both short and medium term) for increasing levels of both permanent and temporary staff remain consistent in most areas. This report in addition to other recent widely publicised positive economic indicators suggest a broader confidence in the UK economy as we approach negotiations around formal exit from the EU.