UK labour market shows signs of stabilization in July

The United Kingdom's labour market showed signs of stabilization in July, according to a survey by the Recruitment and Employment Confederation (REC) and KPMG. The monthly gauge for permanent job placements rose to 50.0 from 49.1, marking the end of a 45-month downturn.

Key findings from the survey include: - Wage growth for new permanent hires reached its strongest level in six months. - Pay for temporary roles hit a 26-month high. - Temporary vacancies increased for the first time in two years. - The temporary staff placements gauge sat at 51.9, a decrease from 52.7 in June.

Callum Licence, head of advisory at KPMG UK and Switzerland, noted that businesses will likely look for signs that new government policies can foster greater confidence to invest and hire.