UK recruiters are reporting the steepest rise in the number of people seeking work since the depths of the financial crisis, as companies dismiss staff who had previously been furloughed.
The increase in the supply of temporary staff in July was the biggest in 23 years of records, according to the Recruitment & Employment Confederation.
Its latest monthly survey, conducted with KPMG, showed that more than four-fifths of recruiters reported increases in staff availability, with the supply of permanent staff rising at the sharpest pace since December 2008.
This follows seven years up to the start of the Covid-19 pandemic, when most recruiters reported finding it harder to fill posts.
The KPMG/REC survey corroborates anecdotal reports of vacancies in bars, hotels and customer services teams attracting hundreds of overqualified applicants, with few companies hiring and job losses starting to mount up.
“There is a wave [of unemployment] coming towards us