Permanent hiring in the UK rose in September at its strongest rate in four years, according to the KPMG and REC Report on Jobs published on 8 October. The rise was marginal, but it was the second month in a row.
The survey is compiled by S&P Global from around 400 recruitment and employment agencies. Its data was collected between 10 and 24 September.
01What the Report on Jobs found
Demand for staff still fell, but at the weakest rate in just over two years. Permanent vacancies in the private sector rose for the first time in more than two years.
Starting pay for permanent staff kept rising. The growth slowed for the first time in four months.
More people were looking for work, often after redundancies. That rise was the slowest in three years.
IT and computing and engineering led the demand for permanent staff. Retail and hotel and catering saw the sharpest falls in vacancies.
The North of England led the rise in permanent placements. The South of England was the only area monitored where they fell.
02Why the budget matters to a hiring decision
The Budget is on 28 October, and it could change what an employee costs. KPMG called this a fragile recovery.
According to Jon Holt, group chief executive of KPMG, businesses will be looking to the Budget for greater certainty in tax policy. According to Maxine Bligh, interim chief executive of the REC, permanent vacancies in the private sector show it is ready to invest.
03Costing a hire before you commit
If you are thinking about taking someone on, the salary is only part of the cost. Employer National Insurance is 15% of pay above £5,000 a year. You must also pay at least 3% of qualifying earnings into a workplace pension.
There is usually a gap of some months before a new hire pays for themselves. Our guide on how much it costs to employ someone works through the full figure and how to fund that gap.
If the forecast shows you need funding to cover it, a broker can look at the options with you. Our page on growth business finance explains how we can help.
