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UK Labour Market – a round up

In their most recent “Report on Jobs”*, the KPMG and Recruitment and Employment Confederation (REC) report that staff appointments rose at a faster rate in October, the second fastest since March. However in other areas, tight labour market conditions combined with a reluctance among candidates to move jobs amid Brexit-related uncertainty takes its toll:

Vacancies

Survey results show that the vacancies are at a near-record high. According to latest data from the Office for National Statistics (ONS), job vacancies rose by 4.4% on an annual basis in the three months to September.

Permanent vacancies

The steepest rates of growth for permanent positions continue to be seen across the Engineering and IT & Computing sectors, while the slowest (but still marked) rise was for Construction staff.

Permanent salaries

Salaries awarded to newly-placed permanent workers continued to rise sharply in October. Moreover, the rate of pay inflation was only slightly softer than September’s 41-month record.

Availability of permanent staff

October survey data signalled that permanent candidate numbers declined at a sharper rate across the UK. Furthermore, the pace of reduction quickened to the fastest in nine months.

Other points of note:

  • UK average weekly earnings (based on data from the ONS) showed that the annual growth of employee earnings including bonuses) strengthened to 2.7% in the three months to August, marking the quickest rate of growth since the three months to February.
  • Key Exec/Professinal permanenet staff skills on the short supply list during October 2018 include HR, Marketing, Project Manager, Regulatory Professionals, Scientists and Solicitors.

 

*The KPMG and REC report is a monthly publication produced by IHS Markit and sponsored by the REC, based on responses to surveys from a panel of 400 UK recruitment and employment consultancies. 

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