UK employment market shows ‘rays of light’ for jobseekers with upturn in pay, study shows - business live
Robert Walters boss says legal, technology and accounting recruitment is picking up, as data shows temporary vacancies rise for first time in two years Toby Fowlston , chief executive the recruitment company Robert Walters, talked of “shards of light in certain parts of the world,” including the UK. The company has just reported a 9% rise in net fee income in the first half of the year. But…
Robert Walters CEO Toby Fowlston highlighted positive signs in the UK job market, noting a 9% increase in net fee income and rising temporary vacancies for the first time in two years. While the demand for tech talent remains strong, the main challenge lies in candidates' confidence to transition, particularly amidst rising living costs and interest rate fluctuations.
Starting salaries for permanent roles have shown the fastest growth in six months, with wage increases accelerating to their highest level since January. The permanent salaries index is above the 52.3 average seen in 2025, indicating sustained pay growth over the past 18 months. However, the resumption of hostilities in the Middle East in July may have contributed to a temporary drop in temporary hiring and a rise in permanent roles, suggesting a possible "Burnham Bounce."
Despite this, the labour market is beginning to stabilize, with vacancy growth recovering and staff availability high. The upcoming UK budget in October could provide additional confidence and help alleviate some of the regulatory hurdles currently facing employers.
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