By Daniel Hunter
The latest Bank of Scotland Report on Jobs signalled the sharpest rise in permanent staff placements in the ten-and-a-half year survey history in July.
The marked rise in permanent appointments — reflecting greater market activity and higher demand — contrasted with a more modest increase in temp billings. Concurrently, the availability of permanent staff deteriorated at the sharpest pace since June 2007 and average salaries rose at a strong, albeit weaker rate.
At 60.3, the July Bank of Scotland Labour Market Barometer — a composite indicator designed to provide a single figure snapshot of labour market conditions — rose to its highest level since September 2007. The Barometer, posting above the 50.0 no-change mark and up from 58.5 in June, suggested a marked improvement in Scottish job market conditions.
“July’s Barometer rose to its highest level since September 2007. The number of people appointed to permanent jobs rose markedly while the number of vacancies for both permanent and temporary jobs increased strongly," Donald MacRae, Chief Economist at Bank of Scotland, commented.
"Vacancy growth was marked in the engineering and construction sector. These results suggest rising business confidence is translating into a continuation of the recovery in the Scottish economy this summer.”
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