Bank of Scotland Report Shows Labour Market Growth

April's Bank of Scotland Report on Jobs showed the Scottish labour market continued to grow, albeit at a slower rate than the previous month. The key findings of the report are as follows:

Wages and Salaries

• April saw permanent starting salaries rise sharply, and at a faster rate than in the previous month.
• Growth in temp hourly pay eased to a three-month low, but nevertheless remained solid in the context of historical survey data.

Employment

• April's rise in permanent staff appointments was the slowest since May 2013, with the rate of growth having eased for the second successive month.
• Temporary billings were broadly unchanged from the situation one month earlier.

Vacancies

• Recruitment consultancies recorded another strong increase in the demand for permanent staff, albeit one that was the weakest in 2014 so far.
• Growth in the demand for temporary staff was unchanged from the marked pace recorded in the month before.

Availability

• Permanent candidate availability fell sharply in April, the rate of decline only slightly slower than March's survey record.
• Temp candidate numbers also decreased markedly, but at a slower rate compared to that observed in March.

Sectors

• Nursing/Medical/Care was Scotland's top performing sector with regards to permanent staff demand, followed by Accounts & Financial. Blue Collar again saw the weakest overall rise in permanent job vacancies.
• Demand for temporary staff rose fastest in Nursing/Medical/Care, followed by IT & Computing.
• Echoing the trend in permanent staff demand, Blue Collar saw the weakest overall rise in temp job vacancies.

Commenting on the findings, Bank of Scotland Chief Economist, Donald MacRae said:

"The Scottish labour market continued to improve in April. Demand for staff was strong but accompanied by a lack of available candidates. As a result the number of people appointed to permanent jobs rose but at a slower rate than in recent months." He continued: "Salary inflation picked up in the month, partially reflecting demand for staff. The economic recovery continued into the second quarter of 2014."

John Swinney, Scotland's Finance Secretary also welcomed statistics stating:

"They follow on from this week's labour market figures which show that employment levels are at their highest since records began, with 2,585,000 people now employed in Scotland. Latest Gross Domestic Product (GDP) statistics report that the Scottish economy increased by 1.6% during 2013, the fastest annual growth since 2007.

The recovery in Scotland's economy is continuing to make headway, but there is no room for complacency. That is why we are also continuing to invest, through our schools, colleges and universities, to ensure people of all ages have the skills our economy requires."

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