Staff placements increase despite sharp drop in candidate numbers
21 April 2014
March’s Bank of Scotland Report on Jobs showed continued growth in permanent and temporary staff placements, but at slower rates than in February as a lack of candidate availability weighted on recruiters’ ability to fill vacancies. Staff pay meanwhile rose strongly as the demand for new employees further strengthened.
The Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – registered 63.9 in March, unchanged from February’s mark and thereby the joint-second highest in the series history. The latest index reading was consistent with a marked improvement in overall labour market conditions and slightly above the equivalent index for the UK as a whole.
Donald MacRae, Chief Economist at Bank of Scotland, commented:“The Barometer reading for March was the joint-second highest in the history of the survey reaching pre-recession levels. The number of people appointed to jobs increased accompanied by a strong rise in job vacancies during the month. The number of candidates available for permanent jobs fell contributing to a robust rise in starting salaries. This tightening jobs market provides more evidence of increasing business confidence and embedding of the growing recovery.”