By Daniel Hunter
The latest Bank of Scotland Report on Jobs signalled further sharp increases in both permanent and temporary staff placements during October. Scottish recruiters largely linked this to greater client demand, with permanent vacancy growth in particular accelerating to its fastest pace since July 2007.
Concurrently, the availability of staff continued to deteriorate sharply over the month, while permanent salaries rose at a strong, but weaker pace.
The Bank of Scotland Labour Market Barometer — a composite indicator designed to provide a single figure snapshot of labour market conditions — rose to its joint-highest level in over six years during October. At 60.9, up from 60.0 in September, the Barometer indicated a marked improvement in Scottish job market conditions, which remained stronger than the UK average.
“October’s Labour Market Barometer rose to its joint-highest level in over six years taking the index back to pre- recession levels," Donald MacRae, Chief Economist at Bank of Scotland, commented.
"Demand for staff rose at a marked pace across all sectors while the number of people appointed to jobs rose sharply in the month. Salaries for permanent jobs increased at a strong pace. The recovery in the Scottish economy is showing through in growing employment and rising pay.”
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