10.11.2014

Study Reveals Continued Jobs Growth, But Pay Growth Moderates

The number of permanent jobs created in the UK continued to rise in October for the 25th month in a row, albeit at the slowest rate in a year, the latest Report on Jobs from the Recruitment and Employment Confederation (REC) and KMPG has shown.
 
While the number of vacancies available to candidates increased in October, the data also revealed slower growth of pay, with salaries for permanent positions increasing at the weakest rate since February. Temporary and contract staff pay growth also fell to a five-month low.
 
Recruitment consultants surveyed by the poll reported that candidate availability for permanent positions was also low, while temp availability decreased at the fastest rate in three months.
 
Demand for staff was considerably stronger in the private sector than in the public sector, with engineering, IT and computing leading the way. Meanwhile, the hotel and catering sector saw the slowest growth in demand.
 
"The good news about our jobs market continues, with two solid years of growth in the number of people finding new permanent jobs via recruiters," said REC chief executive Kevin Green. "The number of vacancies is continuing to rise, with businesses in all sectors of the economy looking to hire more staff."

Expert Opinion

This research suggests that there are a number of job opportunities emerging, which is unsurprising with the economy improving significantly in recent months. <br/> <br/>"Many small businesses now view the current conditions as an ideal opportunity to expand their operations or develop their offerings, with a number looking at recruitment opportunities. <br/> <br/>"It is vital that SMEs taking these steps plan accordingly and also seek advice from legal experts who will be able to provide advice on key employment issues to consider as they seek to develop their workforce." Fergal Dowling - Partner