Bank of Scotland

Demand for permanent staff increases at fastest pace since July 2007

20 January 2014

  • Rates of staff appointments growth near record-highs in December
  • Permanent salaries increase at fastest pace in 11-year series history
  • Edinburgh sees strongest rise in both permanent and temporary staff placements

The latest Bank of Scotland Report on Jobs signalled near-record increases in both permanent and temporary staff appointments in December. The sharp rates of staff placements growth generally reflected greater client demand. Permanent vacancies in particular rose at the fastest pace since July 2007 and were a factor behind the sharpest increase in starting salaries in the 11-year survey history.

At 63.6 in December, the Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – indicated a marked improvement in Scottish job market conditions. Moreover, having risen for the fourth consecutive month, the Barometer signalled the second-fastest rate of growth since data collection started in January 2003.

 

Donald MacRae, Chief Economist at Bank of Scotland, commented: “December’s Barometer showed another marked improvement in the Scottish jobs market. The number of people appointed to both permanent and temporary jobs rose sharply while the number of vacancies increased strongly reflecting strong demand from employers. The increase in permanent salaries was the fastest in the eleven years of the survey. These results show business confidence in Scotland is on the increase and suggest the recovery will continue in 2014.”

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