Demand for staff remains strong but growth in placements eases
19 May 2014
April’s Bank of Scotland Report on Jobs indicated continued strong growth in demand for staff north of the border, but also highlighted an acute lack of available candidates. Staff placements increased at a slower pace, with temporary billings stagnating after a prolonged spell of growth. On the pay front, both permanent starting salaries and temporary hourly pay rates increased, the former at the faster pace.
At 62.5 in April, down from March’s 63.9, the Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – remained close to its highest level in the survey’s history and indicative of a substantial improvement in the health of Scotland’s labour market. That said, the barometer was lower than its UK equivalent for the first time in 14 months.
Donald MacRae, Chief Economist at Bank of Scotland, commented: “The Scottish labour market continued to improve in April. Demand for staff was strong but accompanied by a lack of available candidates. As a result the number of people appointed to permanent jobs rose but at a slower rate than in recent months. Salary inflation picked up in the month partially reflecting demand for staff. The economic recovery continued into the second quarter of 2014.”