Hiring hit by wage inflation

Wages in financial and professional services have climbed 17%, according to a Manpower report cited in the Financial Times. The higher wages and a lack of competent middle management have pushed companies to slow down hiring plans for the third quarter, Manpower said. High wages also meant that employees in some sectors were staying as little as 60 days before moving to better paying jobs. The high fluidity is blamed on a belief that employees have to keep moving to stay ahead. The company's global staffing survey expanded into China last year. It was published Tuesday.