Neil Carberry, REC Chief Executive, said:

“This report with KOMG emphasises a weak mood

in some businesses as they built their

budgets for this year, and made changes

designed to save on costs after a tough

Budget. That said, sentiment can change

quickly. There was a softer drop in temp

billings signalled in the North. December

is always a hiring low point, and a new year

brings new hope – with inflation under

control, low unemployment and economic

growth expected, the fundamentals are

better than many appreciate. It is what

happens now, as firms return to the market

in January, that will decide the path ahead.

Recruitment is one to watch in early 2025

because it is one of the earliest indicators of

a broader economic recovery, with any sign

of a turn hugely significant with the sector

contributing a massive £44.4bn to the UK

economy in 2023.”