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Perm placements recovering, contract billings up slightly in Feb
Posted Mar 2, 2010
The latest REC/KPMG 'Report on Jobs' suggests that the permanent jobs market is recovering fast. Contract billings continue to increase month-on-month, albeit at a modest rate.
The monthly report provides a snapshot of the health of the UK's labour market, drawing on original data supplied by recruitment agencies.
Permanent recovery, contract billings up slightly
This month's report signalled a stronger rise in permanent placements in February, but a slower increase in contract (and temporary) staff billings.
The growth of permanent staff placements accelerated in February, reaching its strongest since July 2007. Contract staff billings also increased, although the latest rise was the slowest in three months.
The overall demand for staff continued to increase in February, extending the current period of growth to five months. The pace of expansion accelerated again, reaching its fastest for just over two-and-a-half years. Sharper increases in demand were recorded for both permanent and contract staff.
The rate of inflation of permanent salaries was at a 22 month high last month, however contract and temporary rates of pay rose only fractionally for the second month in a row.
Particularly strong frown in IT
The REC's chief executive, Kevin Green, commented:
"The UK jobs market is continuing to improve. Increasing employer confidence has resulted in the best performance we've seen in permanent employment for two and a half years. High-end sectors such as IT are showing particularly strong growth and we are also seeing significant increases in demand for admin and back-office support."
"Looking ahead, there are indications that recruitment in the public sector could drop off fast... Rather than responding with random job cuts, the public sector needs to embrace radical reform. Flexible working must be seen as part of the cost solution, rather than the problem."
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