REC study reveals clear improvement for London jobs market
The London jobs market showed clear signs of recovery during November as both temp billings and permanent placements were up on previous months.
Significant showings of growth in the capital were detailed in the Recruitment and Employment Confederation’s (REC) and KPMG’s ‘Report on Jobs’, which sees REC associated recruitment consultancies provide their most up-to-date monthly picture of recruitment, employment staff availability and earnings trends in London.
Figures listed in the report show temp billings growing at their fastest rate since April 2011, with employers hoping that Christmas will bring a much needed cheer. Compared to results from the same period last year, November also spawned a second successive monthly increase in the number of staff finding permanent work in London.
However, according to last month’s readings from i-l-m.com, this level of growth couldn’t quite compete with October’s 17 month high and was considered modest by REC researchers.
Other results show both permanent and temporary job vacancies increasing over November, with both markets combined growing at the fastest pace seen in over a year.
Unfilled vacancies in both markets were at the highest level since June 2011, although temporary jobs grew at a quicker rate.
Bernard Brown, Partner and Head of Business Services at KPMG, claimed that although both workers and employers should wait on the next few monthly studies for a clearer picture of the market, a definite improvement is taking place.
“It is still early days, but with temporary placements rising at a rapid rate in London, the hope must be that employer confidence is returning and that they are looking to the long-term and recruiting for growth,” he told markiteconomics.com.