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Midlands Job Market Softens as Permanent Staff Placements Fall for Fourth Consecutive Month

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Employment,Midlands,Job Market

A new jobs report reveals that permanent staff placements in the Midlands declined for the fourth month in a row at the end of Q3. While temp billings remained positive, the rate of increase eased sharply. Demand for staff weakened, leading to fewer vacancies for both permanent and temporary roles.

Data from a newly released jobs report saw the number of permanent staff placements fall for the fourth consecutive month across the Midlands at the end of the third quarter.The findings were made in the latest KPMG and REC, UK Report on Jobs survey, compiled by S&P Global.

Demand for staff was muted, as vacancies for both permanent and temporary roles reduced during last month, with the latter falling into decline for the first time since October 2020. The rate of salary inflation strengthened from the previous survey period to reach the highest since June.Average hourly pay for short-term staff fell for the first time in nearly four years at the end of the third quarter.

“While the fall in hourly pay for temporary staff suggests a potential shift in the balance of power between employers and job seekers, starting salaries continue to rise which should give experienced hires the confidence to continue looking for new opportunities.”

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