The Changing UK Job Market
Intro Personnel are panel members of a selected group of recruitment companies from across the UK that provide regular recruitment industry data for the monthly Report on Jobs that is a joint-publication by Markit, the REC and KPMG. As a panel member Intro Personnel receive one of the first batch of the monthly reports and during May it’s been reported that across the UK job market the decline in candidate availability has intensified. Moreover, the rate of deterioration in candidate availability accelerated to the sharpest seen since November 1997. Temporary/contract staff availability was also down markedly, with the latest drop only slightly slower than April’s 13-year record. Although easing slightly from April’s 81-month high, the rate of growth in permanent salaries remained considerable in May, temporary/contract staff hourly pay rates meanwhile rose at the fastest pace since December 2007, which is likely to be closely related to candidate availability factors.
However, these challenges are a product of an ever-improving domestic economic picture, industrial output grew at its fastest annual pace for three years in April, official figures have shown. Output rose by 3% in April from a year earlier, the Office for National Statistics (ONS) said, the fastest annual rate since January 2011.The narrower measure of manufacturing output rose 4.4% year-on-year, the fastest pace since February 2011.Meanwhile, economists at research group NIESR estimate that UK gross domestic product is now above pre-crisis levels. In addition, the UK jobs market continued to improve in the three months to April, the number of people out of work fell by 161,000 to 2.16 million, bringing the unemployment rate down to 6.6%.
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