Job listings fall for second month as budget and employment law worries curb hiring

"New job adverts fell for the second month in a row in November, adding to signs that demand for workers is cooling as businesses grapple with budget uncertainty and proposed changes to employment law. According to the latest survey from the Recruitment and Employment Confederation (REC), new job postings dropped by 14.4 per cent between October and November, while the total number of active job adverts fell by 11.2 per cent over the same period."

"The REC said the decline suggests many employers chose to pause recruitment ahead of the Chancellor's budget on November 26, while also waiting for clarity on the government's Employment Rights Bill. Although the bill was softened towards the end of the month, it remains stalled in the House of Lords, where peers have called for a cap on compensation payouts in unfair dismissal cases, a point of concern for many employers."

New job adverts fell for the second consecutive month in November as demand for workers cooled. The Recruitment and Employment Confederation (REC) survey recorded a 14.4% drop in new job postings between October and November and an 11.2% fall in active job adverts. Hiring typically accelerates ahead of Christmas in retail and hospitality, but many employers paused recruitment ahead of the Chancellor's November 26 budget and while awaiting clarity on the government's Employment Rights Bill. Although the bill was softened later in the month, it remains stalled in the House of Lords. Budget speculation and fiscal uncertainty have dented confidence, hiring plans and investment, even as overall vacancies remain at historically healthy levels.

Read at Business Matters