Employers have ‘applied the brakes’ on hiring amid Labour’s doom-mongering and fears over workers’ rights plans.
New research shows that bosses held off on recruitment in September due to unclear government policy.
It comes ahead of this month’s Budget and plans for a shake-up in employment law.
An index tracking permanent job placements posted a further decline last month.
The KPMG and REC survey had a reading of 44.9. A figure less than 50 signals that hiring numbers have fallen.
Applying the brakes: New research shows that bosses held off on recruitment in September due to unclear government policy
A separate employment index from accountancy firm BDO saw its lowest level since January 2013.
Neil Carberry, chief executive of REC, said: ‘This is a picture of a jobs market waiting for a signal… confidence is not yet high enough to push the button.’
KPMG’s UK chief executive Jon Holt said the slowdown was ‘to be expected as businesses apply the brakes on recruitment ahead of the Budget and wait for clarity on taxation, business and economic policy’.
Kaley Crossthwaite, at BDO, said that ‘businesses are looking for a clear roadmap’.
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