The latest Bank of Scotland Report on Jobs signalled a further improvement to the Scottish labour market in May. Both permanent and temporary placements rose strongly over the month, but at sharply reduced rates from the highs recorded in April. Recruitment firms generally attributed higher staff placements to greater client demand, with vacancy growth strong overall. The availability of permanent staff meanwhile fell further in May, while salaries rose to the greatest extent in a year.
- Growth of permanent and temporary placements ease sharply from April’s highs
- Permanent salaries increase at fastest pace in a year
- Edinburgh sees strongest rise in permanent placements; Glasgow posts fastest increase in temp staff billings
The Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – posted 54.8 in May, suggesting a solid improvement in Scotland’s job market. However, down from 55.8 in April, the Barometer signalled a weaker improvement than one month previously.
Donald MacRae, Chief Economist at Bank of Scotland, commented: “The Scottish labour market continued to improve in May but at a lower rate than in the previous month. The number of people appointed to jobs rose while the number of vacancies for both temporary and permanent jobs increased sharply indicating demand for staff from employers. The Scottish labour market is showing resilience in the face of the global slowdown of 2012.”