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The latest Bank of Scotland Report on Jobs signalled further sharp increases in both permanent and temporary staff placements during October. Scottish recruiters largely linked this to greater client demand, with permanent vacancy growth in particular accelerating to its fastest pace since July 2007. Concurrently, the availability of staff continued to deteriorate sharply over the month, while permanent salaries rose at a strong, but weaker pace.
The Bank of Scotland Labour Market Barometer, a composite indicator designed to provide a single figure snapshot of labour market conditions, rose to its joint-highest level in over six years during October. At 60.9, up from 60.0 in September, the Barometer indicated a marked improvement in Scottish job market conditions, which remained stronger than the UK average.
Donald MacRae, Chief Economist at the Bank of Scotland, commented: “October’s Labour Market Barometer rose to its joint-highest level in over six years taking the index back to pre-recession levels. Demand for staff rose at a marked pace across all sectors while the number of people appointed to jobs rose sharply in the month. Salaries for permanent jobs increased at a strong pace. The recovery in the Scottish economy is showing through in growing employment rising pay.”
Dundee-based recruiters reported the strongest increase in permanent staff placements in October, whilst recruitment agencies in Glasgow saw the fastest rise in temporary billings. The sharpest deteriorations in permanent and temporary staff availability were recorded in Glasgow and Aberdeen, respectively.
The strongest rise in permanent salaries was posted in Glasgow, with the fastest increase in temporary hourly pay reported in Aberdeen. Permanent salaries rose at a strong pace in October, although the rate of growth eased from September’s six-year peak. Despite having eased sharply to a six-month low, the latest increase in temporary hourly pay remained stronger than the long-run series average.
Permanent appointments made by Scottish recruiters rose sharply and accelerated pace in October, with a growth rate just shy of the record rates in July and August. Temporary billings also grew sharply over the month and at the fastest pace since January.
Demand for permanent staff rose at the sharpest pace since July 2007. There was, however, a marked deterioration in permanent candidate availability, albeit the rate of decline was the weakest in four months. Temporary and contract job vacancies increased markedly, with the rate of growth the second-fastest in six years. The availability of temporary staff fell at its sharpest rate since December 2004.
Demand for permanent staff increased in all eight sectors during October, led by IT & Computing. Moreover, the rates of growth accelerated in most cases, with the only exception being Engineering & Construction. All eight sectors posted a larger number of temporary vacancies in October, the first universal rise since June 2012. The Nursing/Medical/Care sector saw the strongest rate of vacancy growth, which was the fastest since data collection began in January 2003.
|Ranked||Permanent Staff||Temporary / Contract Staff|
|1||IT & Computing||Nursing/Medical/Care|
|2||Nursing/Medical/Care||Hotel & Catering|
|3||Hotel & Catering||IT & Computing|
|4||Accounts & Finance||Secretarial & Clerical|
|5||Executive & Professional||Engineering & Construction|
|6||Engineering & Construction||Blue Collar|
|7||Secretarial & Clerical||Accounts & Finance|
|8||Blue Collar||Executive & Professional|