The Report on UK Jobs is unique in providing the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies and employers to provide the first indication each month of labour market trends.
The main findings from the Report on UK Jobs for February are:
Permanent appointments rise at strongest rate in almost four years
Recruitment consultants signalled the fastest growth of permanent staff appointments in almost four years during February. However, temporary staff billings increased at the slowest pace in three months.
Demand for staff continues to grow strongly
February data indicated a further marked rise in vacancies. The rate of expansion was only marginally below January’s fifteen-and-a-half year high.
Sharpest rise in permanent salaries since October 2007
Growth of permanent salaries accelerated in February, reaching the highest rate in over six years. Temporary staff pay increased at the fastest pace since last July.
Candidate availability falls at sharper rate
The availability of staff was reported to have declined again in February. In particular, the supply of permanent candidates fell at the sharpest rate since November 2004.
Commenting on the latest Report on UK Jobs, Bernard Brown, Partner and Head of Business Services at KPMG, said:
“Working Britain appears to be suffering from a clash of confidence. With permanent appointments rising at the strongest rate for almost four years, employers appear determined to show they are secure enough to make long-term commitments. Candidates, on the other hand, are less certain, preferring to stay put than advance their careers in a new environment. Yet individuals’ nervousness may be misplaced. Temporary placements are falling and with starting salaries rising at their highest rate for almost seven years, all the indications are that any concerns over job security may be unwarranted. The simple fact is that employers wouldn’t be competing to offer candidates ever increasing salaries if they couldn’t afford to sustain them. Doing so would be a short-term folly and run the risk of undermining recovery. Those in the North are recruiting hardest and fastest, and even the slowest area – in London – is seeing a marked increase. The hope now must be that employees and employers rethink their approach and the clash of confidence is replaced by a meeting of minds.”