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Commenting on the latest ONS labour data, Tj Kearney, Senior Analyst in Professional and Business Services at RSM UK, said: “While the headline labour market data indicates greater stability, the outlook for professional and business services (PBS) firms remains mixed. Today the ONS vacancy data shows that Professional, Scientific and Technical (PST) activities have experienced some of the largest declines in vacancies across the economy during 2026. This signals that businesses are adopting a more selective and cautious approach to recruitment amid uncertain economic conditions.
“Demand for specialist talent remains strong across areas such as accountancy, legal services and technology but rising employment costs, economic uncertainty and the potential for further fiscal changes in the Autumn Budget are encouraging firms to be more disciplined in their hiring decisions. However, it is notable that many PBS firms continue to perform strongly despite lower vacancy levels, which suggests that firms are increasingly focusing on productivity, technology adoption and operational efficiency, rather than growth driven solely through workforce expansion.
“Looking ahead, we expect hiring activity across the sector to remain cautious but targeted, with firms continuing to invest in specialist skills that support growth, transformation and innovation. PBS firms are likely to maintain tight control over costs, while prioritising strategic recruitment where skills shortages persist. While today’s data suggests that the labour market is becoming less frenetic than in recent years, competition for high-quality specialist talent is likely to remain strong and a key driver of recruitment activity.”