Election outcome boosts UK jobs market

The UK jobs market has received a post-election boost with recruitment activity showing signs of revival in December, according to a new report.

A female boss extends her hand to welcome a newly hired worker

David Sapsted

10 January 2020

A survey of 400 jobs agencies by the Recruitment and Employment Confederation (REC) and KPMG showed the numbers placed in both permanent and temporary positions increased last month for the first time in a year.After a year of political indecision in Britain, December's general election, which resulted in a commanding victory for the Conservatives, appeared to convince companies to begin recruiting again after a lengthy period of delayed decision-making.

How does the head of the Recruitment and Employment Conferation interpret this?

Neil Carberry, chief executive of REC, said, "After the uncertainty of 2019, there are some signs of a clearer outlook for hiring in today's survey."With a new government in place and the path ahead looking more predictable, some businesses have decided that they have waited long enough."The first increase in permanent placements for a year should give encouragement to both recruiters and employers - let's hope this is a sign of positive things to come."

Job vacancy growth at "sluggish" pace

However, the report found that, while vacancy growth rose last month, it was still at a "relatively sluggish pace" - a fact not only attributed to Brexit but the fact the UK labour market is so tight with near-record employment levels, leading to a marked fall in the number of candidates available for work.James Stewart, of KPMG, said, "It would appear that following the clarity of the election outcome, the jobs market finally began to show signs of life, with permanent placements rising for the first time in a year."However, growth was modest and coming off a historically low base, so UK business will be hoping for quick government action to get the UK back on the path to growth - including an investment in upskilling the workforce."Lingering uncertainty around the Brexit deal to be secured will continue to weigh on employers' decision-making around hiring and investment over the coming months, as well as job-seekers' desires to seek new opportunities."

What are the best paid jobs?

In a separate report, the jobs site Indeed conducted a survey of the best paid jobs currently on offer. It found that executive positions in finance, sales and engineering were commanding salaries of more than £100,000 a year, while medical specialists such as orthodontists and plastic surgeons could expect pay packets of £90,000-plus.Bill Richards, managing director of Indeed, said, "Gaining advanced skills and experience has long been a powerful way to boost your earning power, and this snapshot of the best-paying vacancies currently being advertised on Indeed shows it holds as true as ever."What is striking is just how much the medical profession dominates our top 20 best-paying roles. Such high salaries suggest that the supply of qualified candidates isn't keeping up with demand, leading employers to pay more in order to win the battle for talent."With many specialist healthcare employees working long hours under intense pressure, and potentially making life-or-death decisions in the process, such high salaries may be seen as a just reward for their hard work and expertise."