UK job market on its way back after downturn, recruiters say

LONDON - A fall in permanent hiring by employers in Britain was its least severe in more than a year in May and the recruitment market appears to be poised for a recovery, an industry survey showed on Monday.

The REC survey has generally painted a weaker picture of the labour market than broader official data, which showed annual wage growth of 6% in the first quarter of 2024. In a possible relief for the BoE, the availability of staff grew by the most since December 2020, boosted by a mix of redundancies, higher unemployment and the reduction in demand for staff.

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