British employers' hunt for staff pushed pay for new hires up by the most in at least 24 years, according to a survey published on Thursday as the Bank of England begins discussing whether to cool inflation pressure with an interest rate hike.
The Recruitment and Employment Confederation said permanent placements of workers sped up in November to hit its fifth-fastest pace since its surveys began in 1997, pushing up these workers' pay by a record amount. Temporary hiring also accelerated.
Better skills training, more labour market flexibility and improved transport links were all important for making sure the labour market continued to function well, she said. The REC survey showed a further fall in candidate supply last month, albeit a less severe one than in October. Demand for staff rose again but at the slowest pace in six months.
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