Further improvement to the Scottish labour market in May
By Daniel Hunter
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.
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.
"The Scottish labour market continued to improve in May but at a lower rate than in the previous month," Donald MacRae, Chief Economist at Bank of Scotland, commented.
"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."
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