Growth of permanent appointments accelerates to 14 month high in June
15 July 2013
- Bank of Scotland Labour Market Barometer signals marked improvement in Scottish job market conditions
- Strongest rise in permanent salaries since September 2007
- Aberdeen posts the strongest rise in permanent placements for the second month running, while Dundee sees the fastest increase in temp staff billings
The latest Bank of Scotland Report on Jobs signalled a marked improvement in Scottish job market conditions in June. Staff placements continued to rise on the back of the strongest rates of permanent and temporary vacancy growth in 14 and 21 months respectively. Concurrently, candidate availability deteriorated further, while average pay increased at the sharpest pace for almost six years and at a much faster rate than the UK average.
The Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – remained above the 50.0 no-change mark in June, suggesting a further improvement in Scottish job market conditions. At 58.5, up sharply from May’s 54.7, the Barometer indicated that the latest improvement was the greatest since October 2007.
Donald MacRae, Chief Economist at Bank of Scotland, commented:
" June’s Labour Market Barometer rose to 58.5, its highest level since October 2007. Both the number of people appointed to permanent and temporary jobs rose in the month accompanied by sharp rises in vacancies. Improvements in job market conditions were spread across all sectors. These results signal a further strengthening of the recovery in the Scottish economy and bode well for employment throughout 2013.”