There has been a marked improvement in Scotland’s jobs market, with new research showing an increase in both permanent appointments and vacancies.
The latest Bank of Scotland Report on Jobs revealed the sharpest rise in permanent staff appointments in the survey’s 10-and-a-half year history.
The number of permanent job vacancies “grew strongly” in July, with recruitment agencies also reporting an increase in demand for temporary workers.
Meanwhile, permanent salaries rose for the fifth month in a row. Overall, the bank’s labour market barometer which aims to provide a snapshot of conditions in the jobs market reached its highest level since July 2007.
The research was released at the same time as another survey provided more good news for the economy.
The business trends report from accountants and business advisers BDO LLP showed levels of optimism had risen for the six month in a row, with this in turn feeding into businesses’ employment intentions.
Donald MacRae, chief economist at the Bank of Scotland, said the results from their latest jobs report “suggest rising business confidence is translating into a continuation of the recovery in the Scottish economy this summer”.
He stated: “July’s barometer rose to its highest level since September 2007.
“The number of people appointed to permanent jobs rose markedly while the number of vacancies for both permanent and temporary jobs increased strongly.
“Vacancy growth was marked in the engineering and construction sector.”
As well as the increase in permanent salaries, the study revealed hourly pay rates for temporary staff had increased at the joint sharpest pace since the research began in January 2003.
Confidence also appears to be increasing, with BDO’s optimism index, which predicts performance in six months’ time, rising for the sixth consecutive month to the highest level since April last year.