The end of 2024 saw the fastest decline in candidates being placed into permanent jobs in more than a year, new research in the UK suggests.

Recruiters reported growing cost consciousness by firms in the wake of the rise in employee national insurance contributions.

There was also a decline in temporary jobs last month, according to a survey of 400 agencies by the Recruitment & Employment Confederation.

Chief Executive Neil Carberry said: ‘This report emphasises a weak mood in some businesses as they built their budgets for this year, and made changes designed to save on costs after a tough Budget.

‘December is always a hiring low point, and a new year brings new hope – with inflation under control, low unemployment, and economic growth expected, the fundamentals are better than many appreciate.

It is what happens now, as firms return to the market in January, that will decide the path ahead.’

The end of 2024 saw the fastest decline in permanent placements since August 2023, said the report.

By Alan Jones, PA Industrial Correspondent

source: PA

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