UK Recruitment Activity Accelerates for First Time in Four Years, Survey Shows

A survey closely watched by Bank of England policymakers showed that British companies increased full-time hiring in August. According to Sina Finance, the Recruitment and Employment Confederation said its index tracking permanent job placements rose for the first time since September 2022. Recruiters said the data reflected improving business optimism, with companies winning new orders and taking on more work. KPMG UK Chief Executive Jon Holt said the rebound in permanent hiring in August, alongside growth in temporary hiring, meant market confidence was starting to return. The survey also added to evidence that the UK labor market remains resilient in the face of global energy shocks and high interest rates, ahead of the Bank of England's next rate decision on September 17. Policymakers are currently voting to keep rates unchanged while weighing the risk that renewed conflict in the Middle East could push up inflation against signs of economic weakness.