A recent study has indicated a rise in the number of job applicants in the UK, despite a decrease in the number of companies hiring new staff, according to recent reports.
A survey involving 400 hiring managers revealed a “significant decline” in demand for employees last month, coupled with reports of layoffs, which have resulted in an increase in applicants for both permanent and temporary positions.
The Recruitment and Employment Confederation highlighted that the shift in labor supply and demand has put downward pressure on wages, as both permanent and temporary salaries have only seen minimal increases.
Neil Carberry, the Chief Executive of the Recruitment and Employment Confederation, stated, “Recruitment agencies have observed a trend towards stability in the permanent job market since summer, and today’s data supports this trend for September.”