Market & Data Insights - August 2023
“The professional recruitment market seems to be in a slump. Month-on-month and year-on-year data shows decreases in all but two metrics. However, a deeper look at the data reveals some encouraging signs of growth.
The trends in the latter half of July, coupled with recent positive economic news, suggest that more profitable months lie ahead. While nationwide skills shortages and ongoing union-led pay disputes remain a concern, if inflation continues to fall and the economy keeps growing, consumer and business confidence should improve, which will benefit the recruitment sector.
The government also has a role to play in ensuring the UK has a plentiful supply of skilled workers to fill vacancies. A continued focus on training and better visa routes for overseas talent is critical to success."
