Originally posted on The Global Recruiter Magazine issue 262, pages 23-25. Written by Roger Clements, Chief Growth Officer.

Although frustrated at the lack of real-time recruitment market data, Roger Clements at Matrix discusses the impact of falling hiring volumes on employers and candidates, while advising recruiters to add value to both camps whatever the prevailing conditions.

A collision of factors is resulting in a “notable” decline in UK hiring volumes, as revealed in the recent Talint Partners report. Citing recent Office for National Statistics (ONS) and the Institute for Employment Studies (IES) figures, we’re told employment has fallen to 74.1% down from 74.5% in the previous quarter, while the unemployment rate has risen to 4.2% from 4%. So, employers have become more cautious in their approach to recruitment, with the knock-on effect being that those seeking employment are finding the job market pretty challenging. The post-Covid hiring surge has lost momentum, driven by global economic uncertainties and geopolitical tensions, further compounded by national inflation and fluctuating interest. Then there’s the complicating factor of the changing demand for skills, as artificial intelligence and sustainability climb up the business agenda.

Read the full article HERE.

The future is probably brighter than ONS statistics are telling us right now, but whatever the employment weather, recruiters should aim to be one step ahead to guide employers and candidates through the storm.

Originally posted on The Global Recruiter Magazine issue 262, pages 23-25. Written by Roger Clements, Chief Growth Officer.