British employers reduced the number of new permanent staff they hired through recruitment agencies by the most since mid 2020 last month due to concerns about the economic outlook, adding to signs that the market is becoming tougher for job seekers.
“To some extend this is normalization as the post-pandemic boom abates, but it is also driven by uncertainty,” he said.
Monday’s survey chimed with other indicators showing the labor market is loosening, welcome news for the Bank of England which raised interest rates for the 14th meeting in a row to 5.25 percent last week and has been concerned about high wage growth.
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