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Labour Market Report: March
Posted In: UK Economy
Posted Date: 13/04/2017 14:25:28
Although the pace has been slower than February’s one-year record this month, the number of permanent placements has continued to increase, with demand for staff holding close to an 18-month record.
Temporary placements also continued to grow. This increase was at a faster pace than February’s four-month low, as well as the average pace in 2016.
On a regional basis, the sharpest growth for permanent placements was in the South and North of England. Meanwhile, the North of England and Scotland saw the fastest increase for temporary placements, whilst the weakest was seen in London.
In terms of growth in specific sectors, IT & Computing held the highest demand for permanent staff in March, closely followed by Nursing/Medical/Care. The slowest growth, albeit still sharp, was signalled for Construction workers.
The number of permanent candidates continued to fall in March, although the rate of reduction has slowed since February’s 13-month peak. Meanwhile, the amount of short-term staff available fell at a sharp rate - the quickest recorded since January 2016.
However, the declinein the number of available candidates has resulted in a sharp increase inpermanent salaries and a steady growth in temporary pay, a huge selling point for those candidates that are on the market.
“This shrinking talent pool of available candidates means that businesses are boosting the starting salaries and hourly rates they are prepared to offer to the right candidate. So for job hunters willing to move roles at the moment, there are financial rewards on offer – especially it seems in finance, IT and other management and office-based professional roles.” - REC Chief Executive Kevin Green
Our advice to candidates:
The ball is in your court so take the opportunity to explore various vacancies before you commit to what may seem like the best offer you can get. With a decreasing number of candidates looking for work, you’re more likely to be able to take the next step up the career ladder whilst also ensuring a better salary and benefits package.
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