Bank of Scotland

Solid increase in permanent placements during September

15 October 2012

  • Both permanent and temporary staff appointments increase from August
  • Average permanent salaries fall marginally
  • Strongest increase in permanent placements reported by Edinburgh-based recruiters; fastest rise in temp billings posted by Dundee-based consultancies

The latest Bank of Scotland Report on Jobs signalled an increase in both permanent and temporary staff placements during September. Moreover, the rates of growth were at four- and five-month highs respectively. Scottish recruitment agencies largely linked higher staff placements to greater client demand. Concurrently, candidate availability fell further over the month. However, permanent salaries fell marginally, while hourly temp pay rates rose strongly during September.

The Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – posted 52.3 in September, down marginally from 52.4 in August, and signalled a modest improvement in Scotland’s job market. That said, the average reading for Q3 as a whole was 51.6 (compared to 54.3 in Q2) and suggested the weakest quarterly improvement since Q4 2010.

BOS PR 15-10-12

Donald MacRae, Chief Economist at Bank of Scotland, commented: "Scotland’s job market continued to improve in September with a welcome increase in people appointed to both permanent and temporary jobs alongside a rising number of vacancies. The Scottish economy is maintaining employment in the face of the global slowdown. A significant fall in unemployment awaits a lift in both consumer and business confidence."

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