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- UK pay growth for new staff hits more than two-year low in July - REC
UK pay growth for new staff hits more than two-year low in July - REC
Pay for permanent staff hired in Britain through recruitment agencies rose in July at the slowest rate since April 2017, according to a survey.
The monthly report from the Recruitment and Employment Confederation and accountants KPMG also showed companies reduced the volume of new permanent staff for a fifth month running, albeit at a slower pace than in June.
Overall, the survey added to signs that the labour market, the strongest feature of Britain's economy over the last few years, may now be on the wane.
"Businesses continue to take a cautious approach to hiring as Brexit and economic uncertainty linger," James Stewart, vice chair at KPMG, said.
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