REC / KPMG Report on Jobs
Thursday, July 17, 2014
Record rise in starting salaries as permanent candidate availability plummets.
The Recruitment and Employment Confederation (REC) and KPMG 'Report on Jobs' indicates a considerable reduction in the availability of staff to fill permanent roles. The rate of contraction accelerated to the sharpest seen since 1997. Temporary / Contract staff also recorded a sharp deterioration in availability, with June's drop the greatest since March 1998.
As suitable candidates remain in short supply, and with demand for staff increasing, permanent salaries rose during June at a record rate. Starting salaries have now risen for 26 months in succession.
Temporary / Contract staff hourly pay rates rose at the sharpest rate since November 2007.
Demand continues to grow
Latest vacancy data indicated faster increases in the demand for both permanent and temporary staff during the rest of 2014. Growth was led by the private sector with demand comfortably outstripping the public sector.
The sharpest increases have been seen in the Midlands with the South a close second.