UK permanent jobs rise at fastest pace for 2 years
LONDON: Permanent job placements in Britain rose at their fastest pace for over two years in June as wages and employer confidence picked up, surveys showed on Monday.
Temporary placements grew sharply as well, while vacancies reached their highest level for three years.
The index measuring permanent job appointments grew by its fastest rate since April 2011 at 57.6, a survey by the Recruitment and Employment Confederation (REC) and consultancy KPMG showed. Values above 50 show an increase compared to a month earlier.
“We are now seeing the UK jobs market blast off with the highest number of people being placed in permanent jobs for two years and demand for staff at a three-year high,” said Kevin Green, chief executive at REC.
Britain’s labour market has not suffered as much as the broader economy during the downturn of the past few years, helped by workers accepting below-inflation wage growth.
Monday’s survey showed salaries for permanent staff rose at their fastest pace for nearly two years in June, while temporary workers’ hourly wages grew to their highest level in more than five years.
“We are still witnessing a cautious approach with many hanging on to the jobs they know, fearing the insecurity that comes with starting somewhere new,” said Bernard Brown, partner and head of business services at KPMG.
“Yet, if the economy continues along its current path, it is likely that candidates will also step out in increasing numbers as the year goes on,” he added.
A separate report by accountancy firm BDO showed strong growth in British business confidence over June, reaching its highest level since May 2012.