Strong rise in permanent placements, with growth at seven-month high
17 December 2012
- Both permanent and temporary appointments increase strongly
- Demand for staff strengthens further in November
- Permanent placements rise at strongest rate in Edinburgh, while temp staff billings increase at fastest pace in Dundee
The latest Bank of Scotland Report on Jobs indicated strong monthly increases in both permanent and temporary staff placements in November. This generally reflected greater client demand, with the rate of permanent vacancy growth in particular the strongest since May.
Concurrently, both permanent salaries and temp hourly pay rates increased, with the rates of pay inflation stronger than one month previously.
The Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – rose to its highest level in seven months during November. At 54.9, up from 53.6, the Barometer was above the equivalent index for the UK as a whole, and signalled a solid improvement in Scottish job market conditions.
Donald MacRae, Chief Economist at Bank of Scotland, commented: "Conditions in the Scottish labour market improved in November with the Barometer increasing to a seven-month high. Both the number of people appointed to jobs and the number of job vacancies rose in the month. Despite the economic slowdown, employers continue to hire suggesting a rising trend in business confidence."