Hiring rate declines in October in ‘end to positive news for jobs’

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Alencar, M. (2026, November 9). Hiring rate declines in October in ‘end to positive news for jobs’. City AM. https://www.cityam.com/hiring-rate-declines-in-october-in-end-to-positive-news-for-jobs/

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Quick Summary

In October, hiring activity decreased significantly according to industry data, marking the second-fastest decline this year due to higher borrowing costs and inflationary pressures. This reversal comes after months of positive trends in employment, with employers showing less confidence in hiring despite some resilience seen in London and northern England. The article highlights concerns from KPMG UK CEO Jon Holt about the potential impact of rising interest rates on future hiring decisions and notes that the recent Budget failed to provide sufficient support for job growth amidst economic challenges.

Written by AI on 2026-11-09, from this article's own text only (the story summary below draws on all the coverage).

Story

Hiring Rate Declines In October

Economy/Business · 1 article(s) covering the same event.

Compared with similar articles

This article reads leans left and hedges 36% of its claims. Each row says how that neighbour differs.

US economy added 165,000 jobs in October, unemployment rate dropped to 4.1% Different event

Just The News

Hedges 2 of 5 claims Outlet record 95/100

“The articles describe different aspects of employment trends; one reports job growth and a drop in unemployment, while the other highlights a decline in hiring activity.”

Hiring jumps: The economy added 165,000 jobs last month Different event

NPR

Hedges 1 of 15 claims Outlet record 60/100

“The articles describe contradictory trends in job hiring for October, with one reporting an increase of 165,000 jobs and the other a decline.”

US economy added 165,000 jobs in October, unemployment rate dropped to 4.1% Different event

Just The News

Hedges 2 of 4 claims Outlet record 95/100

“The articles describe different aspects of job market conditions in October; one reports an increase in jobs and a drop in unemployment rate, while the other highlights a decline in hiring activity.”

US adds 165,000 jobs in October, far exceeding expectations Different event

Semafor

Hedges 2 of 5 claims Outlet record 68/100

“The articles describe different trends in job creation and hiring activity, with Article A reporting an increase in jobs and a decline in unemployment rate, while Article B reports a decrease in permanent placements and a slowdown in the jobs market.”

US job openings jump to 7.52 million as layoffs fall, but hiring remains slow Different event

Times of India

Hedges 0 of 42 claims Outlet record 59/100

“The articles describe different time periods with contrasting trends: one shows an increase in job openings but steady hiring, while the other reports a decline in hiring activity.”

Canada expected to add jobs in October, unemployment rate to remain steady Different event

The Globe and Mail

Hedges 2 of 5 claims Outlet record 52/100

“The articles discuss different aspects of the job market over a period of time, not a single specific incident.”

US adds 165,000 jobs in October as labour market beats expectations Different event

South China Morning Post

Leans right further right than this Hedges 2 of 5 claims Outlet record 62/100

“The articles describe different aspects of the job market, with Article A reporting an increase in jobs and a lower unemployment rate, while Article B reports a decline in hiring activity.”

Signals How these are calculated →

Claims extracted

sentences that state something as happening or true

Uncertain

36%

4 of 11 hedged ("reportedly", "may", "according to")

Leaning

Leans left

of the writing, not the subject · beta estimate

Publisher signals

93/100

City AM's corrections and hedging, across everything collected from it. Not a measure of accuracy.

Outlets on this story

Economy/Business

Same framing elsewhere

articles that frame the event the way this one does

Publisher

City AM · 39 article(s) · 0 correction(s) detected

No corrections detected for this publisher. That may mean careful reporting, or simply that nothing has been checked.

Who wrote this

Maurício Alencar

4 article(s) here · 1 carrying a prediction

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KPMG UK chief executive Jon Holt said struggles to deal with costs could further weigh on hiring confidence. “October saw employers pull back on hiring in the month leading up to the Budget, ending a run of more positive news over recent months,” Holt said.

2026-11-09 · mixed framing · Hiring rate declines in October in ‘end to positive news for jobs’

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Nothing else under this byline is closely related to this article, so these are simply their most recent.

Narrative

Claims (11 extracted, 4 hedged)

Hiring activity declined in October, reversing momentum in the jobs market over previous months. asserted

activity → decline → months

Data compiled by a leading industry group showed the number of permanent placements fell last month at the second-fastest pace this year as employers pulled back on hiring. asserted

employers → compile → hiring

Vacancies also continued to fall although the drop was the softest in over two years. asserted

drop → continue → years

Researchers said the fall in permanent placements, along with the first decline in temporary billings since March, was in part due to a rise in borrowing costs from higher interest rates and energy costs hampering firms. asserted

fall → say → firms

Holt → say → months

“Businesses will now be assessing whether the measures announced in the Budget give them enough stability to absorb the external pressures and higher costs they face. asserted

they → assess → pressures

“But with the Bank of England increasing interest rates and inflation set to continue rising over the coming months, there is a risk the green shoots we had been seeing in the jobs market could stall.” uncertain

we → increase → market

Budget ‘missed opportunity’ for jobs boost Maxine Bligh, interim chief executive at the REC, said some resilience in hiring across London and the north of England was promising although labelled the Budget a “missed opportunity for both jobs and growth”. asserted

resilience → miss → jobs

A slowdown in the jobs market could weaken the case for another imminent interest rate hike, with Bank of England policymakers arguing on Thursday that signs of stabilisation had added to inflationary pressures in the UK economy. uncertain

signs → weaken → economy

But the latest official data published by the Office for National Statistics showed vacancy levels dropping below 700,000 for the first time in over five years. asserted

levels → publish → years

S&P Global data crunched by KPMG and REC researchers suggested that there was increased demand for workers in IT and computing, engineering and construction. uncertain

data → crunch → IT