Bank of Scotland

Robust increases in staff placements and pay in September

20 October 2014

September’s Bank of Scotland Report on Jobs showed further robust increases in both permanent appointments and temp billings in Scotland, albeit the rates of growth eased further from their respective recent highs. Meanwhile, there remained strong upward pressure on staff pay, particularly permanent starting salaries, as rising demand for employees contrasted with a further deterioration in candidate availability.

The Bank of Scotland Labour Market Barometer read 64.9 in September, indicating a further strengthening of Scottish labour market conditions. Although at a four-month low, the barometer was nevertheless at a level that was among the highest seen in the series history and above the equivalent UK index for the third month in a row.    

Donald MacRae, Chief Economist at Bank of Scotland, commented: “September’s Barometer showed a continuing rise in the number of people appointed to both permanent and temporary jobs, although at a lower rate than recent highs. Starting salary pay rose strongly reflecting the growing lack of available candidates for vacant positions.  The Barometer is showing almost four years of monthly improvement resulting in the rate of unemployment in September of 5.5%. The Scottish economic recovery continues.”

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