Summary, key points and Technical Moves comment on the latest REC Report on Jobs for October 2017
Permanent placements growth weakens to five-month low...
Permanent staff placements rose at the softest pace since April at the end of the third quarter. That said, the rate of growth remained marked overall. Temp billings meanwhile rose sharply, despite also seeing pace of expansion moderate from the previous month.
...as availability of candidates continues to fall sharply
A key factor weighing on growth in staff appointments was a further steep decline in candidate availability. For permanent candidates, the latest fall was the sharpest for four months, while the availability of temporary workers also fell at a historically marked pace.
Further steep increase in demand for staff
The number of job vacancies across the UK continued to rise sharply during September, with growth of staff demand edging down only slightly from August’s recent peak.
Pay pressures remain sharp
Strong demand for staff and a further drop in candidate availability placed further upward pressure on pay during September. Permanent starting salaries rose at the second-steepest rate in 22 months (after August), while temp pay growth softened only slightly from August’s 16-month record.
Latest data signalled that demand growth remained considerably stronger in the private sector than the public sector. The sharpest overall increase in demand for staff was recorded for permanent workers in the private sector, while the weakest rise in staff vacancies was seen for permanent public-sector workers.
Accounting/Financial was the most sought-after category for permanent staff in September, followed by IT & Computing. The slowest (albeit still marked) increase in vacancies was reported for Construction.
Kevin Green, REC Chief Executive says:
“Candidate availability has been falling for the past four years and the record high UK employment rate plus a slowdown in the number of EU nationals coming to work here is exacerbating the situation, potentially leaving roles unfilled.”
Carl Wright, Technical Moves Director says:
"Summer is over, the holiday season done, schools have returned and clients are firmly back in work mode! We have seen a significant increase in demand, with new instructions for permanent and technical staff across all our built environment sectors in East Anglia and the Home Counties. There seems to be a real focus with many clients reviewing staffing and project needs. Everyone seems extremely busy, which is great if you’re a looking for a career move, as you will certainly be in demand.”
“With candidate shortages running at a four year high, we are advising our clients to have a flexible approach to skills in such a competitive market. Working with a local specialist with knowledge of your sector has never been more important and we would suggest you review our latest salary guides to get a feel for the market: technicalmoves.com/salarysurvey/
"We would love to hear from you to discuss your own situation, career plans or recruitment needs for your business. Talk to our team and let our experience work for you. We promise a friendly approach, confidential advice and quality local knowledge"