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The Guardian - UK
The Guardian - UK
Business
Richard Partington Economics correspondent

Jobs market and pay growth are cooling off, large UK employers and recruiters warn

REC United Kingdom Bank of England
Close-up of a modern office building at night with a figure on the phone silhouetted against one of the illuminated windows
The closely watched jobs reports showed that demand for permanent staff remained subdued. Photograph: Islandstock/Alamy

The UK’s largest employers have warned the jobs market is cooling amid a slowdown in wage growth in July and a fall in vacancies, extending an almost two-year downturn in hiring demand for permanent staff.

Figures from the Recruitment and Employment Confederation (REC) and the accountancy firm KPMG showed a fall in permanent staff placements in July as large employers made more redundancies and hired fewer new starters.

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