Brief by Shorts91 Newsdesk / 01:33pm on 08 Dec 2023,Friday Business
Britain's top recruiters have alerted the Bank of England that demand for permanent staff has dropped at the second fastest rate since the pandemic. Ahead of the central bank's interest rate decision next week, a jobs snapshot showed economic uncertainty and hesitancy to commit to hiring weighed down activity in November. While availability of candidates rose at the quickest pace since 2020, permanent appointments fell sharply. With inflation still stubbornly high, the bank is expected to keep rates unchanged at 5.25%. But the latest data showed few signs of the labour market fuelling further price pressures. Governor Andrew Bailey is monitoring for evidence of inflation persistence after pausing a round of 14 consecutive interest rate increases in September.
