Lower permanent placements as demand for staff softens in July
The latest Bank of Scotland Report on Jobs indicated a further loss of momentum for the Scottish labour market in July. Demand for staff increased at a weaker rate, while Scottish recruiters placed fewer people into permanent work and saw only a moderate rise in temp staff billings. Concurrently, average salaries paid to permanent staff fell for the second month running and to the greatest extent since September 2010.
The Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – posted only slightly above the 50.0 no-change mark in July, indicating only a fractional improvement in the Scottish job market. At 50.2, down from 52.3 in June, the Barometer was at its lowest level in the current sequence of improvement (since November 2010).