Royal Bank of Scotland Jobs Report

Royal Bank of Scotland Jobs Report

Fresh rises in permanent placements and temp billings. Sharp decline in permanent staff supply. Starting salaries and temp wages continue to increase!

The Royal Bank of Scotland Report on Jobs is compiled by S&P Global from responses to questionnaires sent to a panel of around 100 Scottish recruitment and employment consultancies. The report’s November figures show a rise in hiring activity across Scotland in November.

Mild expansions were signalled for both permanent placements and temp billings amid reports of successful
recruitment campaigns and the commencement of projects at clients. In terms of labour supply, November data signalled divergent trends. While permanent staff availability fell due to increased hesitancy among workers to move roles given the uncertain economic climate, temp candidate availability expanded for the second month running, in part fuelled by redundancies.

Sebastian Burnside, Chief Economist at Royal Bank of Scotland, commented: “The fresh and broad-based upturn in hiring contrasted with a downturn across the UK as whole, with permanent staff recruitment particularly weak at the UK level. It is difficult to know whether the increases can be sustained in December and into the coming year, however, given the fall in overall vacancies.

“In terms of pay, a lack of suitably-skilled candidates often led employers to bump up their pay offers to attract the right talent, making it a good time for job seekers if they wish to secure a better paid role.”

Some headlines include:

Permanent placements rise for the first time in four months
Following three consecutive months of decline, Scottish recruiters registered a renewed rise in permanent staff appointments during November. The rate of growth was modest, but nevertheless contrasted with a steep downturn at the UK level.

Fresh rise in temp billings
Temporary staff billings rose slightly across Scotland during November. The upturn ended a 13-month period of decline.

Permanent staff availability falls sharply in November
The availability of candidates to fill permanent vacancies decreased further in November, thereby extending the current sequence of decline which began in February 2021. For the rest of the UK permanent staff supply expanded at a rate that was the most pronounced since December 2020.

Supply of temporary candidates improves solidly in November
After rising for the first time in over two and-a-half-years in October, Scottish recruiters recorded another expansion of temp candidate supply in November. The rate of growth in the availability of temp staff across Scotland was slower than the UK-wide trend.

Average starting salaries rise again
A steep rise in permanent starting salaries was recorded across Scotland during November, thereby extending the current run of salary growth to three years. Starting salaries in Scotland increased at a
quicker pace than that seen across the UK as a whole for the sixth month running

Demand for permanent staff in Scotland fell for the fourth month running in November.
The rate of contraction quickened fractionally from that seen in October and was the strongest in three years. Moreover, the downturn in demand for permanent workers in Scotland was steeper than that seen at the UK level. The Executive & Professional category recorded the strongest reduction overall.

Temp staff vacancies fall sharply in November
A fourth consecutive monthly deterioration in demand for temporary staff was recorded across Scotland during November. The pace of contraction was sharp despite easing since October. Meanwhile, temp vacancies expanded modestly across the UK as a whole.

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