UK employers reported weaker hiring but stronger pay growth in October. A survey by the Recruitment and Employment Confederation and KPMG showed permanent hiring fell for the first time in four months. Jon Holt said, "T risk the green shoots we had been seeing could stall."
LONDON, Nov 9 (Reuters) - Britain's jobs market cooled in October but starting salaries for permanent jobs rose at a faster pace, according to a survey of recruiters published a few days after the Bank of England raised interest rates.
The monthly survey by the Recruitment and Employment Confederation trade body and accountants KPMG - which was published on Monday - showed hiring for permanent roles in October fell for the first time in four months.
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"Businesses will now be assessing whether the measures announced in the Budget give them enough stability to absorb the external pressures and higher costs they face," said Jon Holt, group chief executive and UK senior partner at KPMG.
"But with the Bank of England increasing interest rates and inflation set to continue rising over the coming months, there is a risk the green shoots we had been seeing in the jobs market could stall."