Job market growth sees improvement in February

| March 9, 2011 | 0 Comments

A report by the Recruitment and Employment Confederation (REC) and KPMG has revealed employment for both temporary and permanent workers rose during February.

The survey of 400 recruitment consultancies showed permanent staff vacancies rising at their fastest level in 10 months, while demand for temporary staff saw its biggest rise since May 2007.

The permanent staff placements index rose to 62.7 last month from 58.2 in January. The index remains way above the crucial 50 level, which separates contraction from growth.

Meanwhile, the wage inflation index for permanent staff fell to 53.7 - a three-month low, dipping from January’s 54.1.

The report provides the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies.

Commenting on the data, Rec chief executive, Kevin Green, said: “The UK now has a two-speed labour market. The private sector continues to hire in increasing numbers while the public sector is shedding jobs.”

Bernard Brown of KPMG added: “What the Government needs to do is encourage private sector investment into the provision of public services to mitigate the cuts and job losses we are expecting across the public sector.”

Meanwhile, the latest figures from the Office for National Statistics (ONS) show UK unemployment rose in the three months to December.

The ONS said unemployment grew by 44,000 in the three month period to 2.49 million.

Yesterday, business group the British Chambers of Commerce (BCC), increased its estimate for unemployment for early 2012 to 2.65 million, up from 2.6 million.

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