October sees faster increases in permanent placements and salaries
17 November 2014
Scotland’s labour market conditions continued to improve heading into the final quarter of the year, according to the latest Bank of Scotland Report on Jobs. October’s survey showed sharp and accelerated increases in permanent placements and starting salaries, linked partly to increased demand for staff. Growth in the temporary jobs space eased somewhat, however, with slower increases in billings and temp job vacancies recorded.
The Bank of Scotland Labour Market Barometer remained elevated by historical standards in October. At 65.0, little-changed from September’s 64.9, the barometer was at a level consistent with a marked improvement in labour market conditions and above the UK equivalent which dropped to a seven-month low at the start of the final quarter.
Donald MacRae, Chief Economist at Bank of Scotland, commented: “October saw the Labour Market Barometer reach 65.0 - the fourth highest in the survey history – signalling further improvements in labour market conditions in Scotland. The number of people appointed to jobs increased, as did starting salaries. A rise in vacancies confirmed business confidence remains high. The recovery in the Scottish economy looks set to continue into 2015.”