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 for June are:
Stronger increases in permanent and temporary appointments
Growth of permanent staff placements accelerated markedly in June, reaching the fastest rate for over two years. Similarly, temporary/contract staff billings rose at a much sharper pace, with the latest increase the strongest in seven months.
Demand for staff rises at strongest rate in three years
The rate of expansion of job vacancies accelerated to a three-year high in June. Sharper increases in demand were signalled for both permanent and temporary workers.
Pay growth accelerates
Permanent staff salaries rose at the fastest pace for 23 months in June. Temporary/contract staff pay growth also quickened, reaching the sharpest since March 2008.
Permanent staff availability down, but temp availability rises
Recruitment consultants signalled a further drop in the availability of candidates for permanent roles during June. However, temp availability continued to improve.
Commenting on the latest survey results, Bernard Brown, Partner and Head of Business Services at KPMG, said:
“It’s often said that things happen ‘in threes’ and the latest jobs data has provided the hat-trick, complementing positive reports about the services sector and UK GDP. Certainly as Mark Carney reflects on the first week in his new job, he must be delighted as all the signs seem to be pointing towards an economy on an upward trajectory. The latest figures reveal permanent placements enjoying their highest growth rates for over two years and temporary roles being filled at the quickest pace since Christmas. Perhaps the sun has finally come out to shine on the jobs market and economy at large? Employers seem to think so. Many have stepped up their search for staff with demand for staff accelerating to a three year high. Confidence is even beginning to show itself with employers prepared to increase the salaries they offer to new employees.
“At the same time, candidates are still hedging their bets. We are still witnessing a cautious approach with many hanging on to the jobs they know, fearing the insecurity that comes with starting somewhere new. Yet, if the economy continues along its current path, it is likely that candidates will also step out in increasing numbers as the year goes on.”