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Vacancy growth has hit a six year high !The major issue now is the worrying lack of candidates to fill the jobs being advertised
Vacancy growth has hit a six year high !The major issue now is the worrying lack of candidates to fill the jobs being advertised
Vacancy growth has hit a six year high !The major issue now is the worrying lack of candidates to fill the jobs being advertised
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Vacancy growth has hit a six year high !The major issue now is the worrying lack of candidates to fill the jobs being advertised

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“Vacancy growth has hit a six year high and fluidity is returning to the jobs market, so over the coming months we expect to see a noticeable improvement in official employment figures. The major …

“Vacancy growth has hit a six year high and fluidity is returning to the jobs market, so over the coming months we expect to see a noticeable improvement in official employment figures. The major issue now is the worrying lack of candidates to fill the jobs being advertised. In August, the number of vacancies increased at the sharpest rate in over six years but the availability of staff keeps declining.

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  • 1. Page 1 of 3 © Markit Economics Limited 2013 News Release MARKET SENSITIVE INFORMATION EMBARGOED UNTIL: 00:01 (UK Time) 9 September 2013 Report on Jobs Temp billings rise at strongest rate in over 15 years Key points:  Fastest rise in short-term appointments since July 1998  Permanent placements growth eases, but remains strong  Total vacancies increase at sharpest rate in over six years  Permanent salary inflation strongest in five-and- a-half years Summary: The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs – published today – provides the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies. Temp billings growth at 15-year high... Agencies’ billings from the employment of temporary/contract staff increased strongly in August, with the rate of expansion picking up to the fastest since July 1998. Higher temp billings were supported by the sharpest rise in demand for short- term workers since December 2000. ...while permanent placements also rise strongly The number of staff placed in permanent roles continued to increase at a marked pace in August, although growth eased from July’s 40-month high. Underpinning the rise was the fastest increase in available permanent vacancies since June 2007. Sharpest rise in permanent salaries since February 2008 The rate of inflation of permanent staff salaries accelerated in August, reaching its fastest pace in five-and-a-half years. Temp pay rates also continued to rise, although the pace of inflation was slightly slower than the five-and-a-half year high seen in July. Candidate availability continues to fall The availability of staff to fill permanent job vacancies continued to decline in August, extending the current sequence to four months. The latest fall was solid, albeit slightly weaker than in July. Reflecting the strong trend in temp hiring, the availability of short-term workers deteriorated at the sharpest rate in six years. Regional and sector variation All four English regions saw increased numbers of permanent staff placements during the latest survey period. The sharpest rise was signalled in the North, while the slowest growth was registered in London. Higher temp billings were registered in all four English regions during the latest survey period, led by the North. The private sector continued to register a much stronger trend in demand for staff than the public sector during August. Marked rates of expansion were indicated for both permanent and temporary workers in the private sector. In the public sector, demand for permanent staff fell for a second consecutive month, while demand for temporary staff was moderately higher. Growth of demand was signalled for all nine types of permanent staff monitored by the survey in August. The strongest rate of expansion was indicated for Engineering workers, while Hotel & Catering employees saw the slowest rise in vacancies. Increased vacancy levels were broad-based across all nine temporary/contract staff sectors during the latest survey period. The sharpest rise in demand was signalled for Engineering workers.
  • 2. Page 2 of 3 © Markit Economics Limited 2013 Comments: REC chief executive Kevin Green says: “August was an extraordinary month for the UK jobs market, with temp placements growth hitting a 15 year high. Our temporary worker index is the highest we have seen since 1998, the same summer Google was founded and France won the World Cup for the first time. There is more good news for all workers with pay rates for temps rising for the seventh consecutive month and starting salaries for permanent staff increasing at the highest rate in five and a half years. “Vacancy growth has hit a six year high and fluidity is returning to the jobs market, so over the coming months we expect to see a noticeable improvement in official employment figures. The major issue now is the worrying lack of candidates to fill the jobs being advertised. In August, the number of vacancies increased at the sharpest rate in over six years but the availability of staff keeps declining. He added: “This month‟s figures should be celebrated and efforts should be focused on addressing the skills gap rather than picking holes in flexible working.” Bernard Brown, Partner and Head of Business Services at KPMG, comments: “With retail sales up and the OECD sharply increasing its growth forecast for the UK economy, it‟s no surprise to see that confidence amongst employers is gaining momentum. “Demand for staff has increased at its sharpest rate for over six years and whilst the thirst for permanent employees remains strong, the real success story revolves around the „return to work‟ prospects offered by the surge in temporary and short-term placements. With these roles seeing their fastest rise for 15 years, it means opportunities to get back into the labour market for people with other commitments are becoming more of a reality than a wish. If we continue on this trajectory, it could also mean that Mark Carney will have to consider raising interest rates sooner than first thought. “It‟s a trend that is being replicated across the country, and the demand for staff is good news for prospective employees. In the current marketplace, organisations seem increasingly willing to pay more for top talent, with the latest figures showing the rate of starting salaries accelerating to a 5 and half year high. Increasing the pounds in candidates pockets may sound like good news; it is – but employers must make sure they are paying the right price for the right person and not simply racing to fill a vacancy.”
  • 3. Page 3 of 3 © Markit Economics Limited 2013 Full reports and historical data from the Report on Jobs are available by subscription. Please contact economics@markit.com For further information, please contact: KPMG Mike Petrook, KPMG Press Office 020 7311 5271 (t), 07917 384 576 (m) or mike.petrook@kpmg.co.uk REC Jennifer Jackson / Ingrid Semanikova, REC Press Office, 01753 827 282 / rec@octopuscomms.net Markit Economics (technical/data queries): Jack Kennedy, Senior Economist, Telephone 01491 461087 / jack.kennedy@markit.com Note to Editors: The Report on Jobs is a monthly publication produced by Markit on behalf of the Recruitment & Employment Confederation and KPMG. The report features original survey data which provides cross-sector and pan-region analysis of the UK labour market, drawing on original survey data provided by recruitment consultancies. The Report features original research data from Markit, collected via questionnaire from a panel of 400 UK recruitment and employment consultancies. In 2010/11, some 1,049,333 people were employed in either temporary or contract work through consultancies and 604,193 people were placed in permanent positions through consultancies. Data for the monthly survey were first collected in October 1997 and are collected at the end of each month, with respondents asked to specify the direction of change in a number of survey variables. All Index numbers are calculated from the percentages of respondents reporting an improvement, no change or decline. These indices vary between 0 and 100 with reading of exactly 50.0 signalling no change on the previous month. Readings above 50 signal an increase or improvement; readings below 50 signal a decline or deterioration. Reasons given by survey respondents for any changes are analysed to provide insight into the causes of movements in the indices and are also used to adjust for expected seasonal variations. Markit do not revise underlying survey data after first publication, but seasonal adjustment factors may be revised from time to time as appropriate which will affect the seasonally adjusted data series. Historical data relating to the underlying (unadjusted) numbers, first published seasonally adjusted series and subsequently revised data are available to subscribers from Markit. Please contact economics@markit.com. A regional Report on Jobs series is now available comprising four regional reports tracking labour market trends across the Midlands, the North of England, the South of England and London. The reports are designed to provide a comprehensive and up-to-date guide to labour market trends and the data are directly comparable with the UK Report on Jobs. KPMG KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services. Recruitment and Employment Confederation 15 Welbeck Street, London, W1G 9XT. Tel: 020 7009 2100. Fax: 0207 935 4112 Website: www.rec.uk.com The REC is the professional body representing the UK’s £24.6 billion private recruitment and staffing industry with more than 8,000 recruitment agencies and 6,000 recruitment consultants in membership. There are more than 1 million temporary workers registered with UK agencies who are deployed in industry, commerce and the public services every day. About Markit Markit is a leading, global financial information services company with over 3,000 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial market place. For more information, see www.markit.com. © Copyright in the Report on Jobs, including the Report on Jobs survey data, is owned by Markit Economics Limited. Distribution or storage including databasing by any means including, without limitation, electronic distribution is not permitted without the prior consent of Markit.

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