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Jobs rise signifies recovery

Category: Scottish Economy — Paul Morgan on May 26, 2013

The latest official job figures for Scotland have suggested that a more robust recovery could be on the cards, with more people finding temporary and permanent placements.

According to the Bank of Scotland Labour Market barometer report, the permanent job sector has seen the biggest increase in 12 months.

There was further good news in average salaries too, with the pay of temporary employees continuing to increase through April. Permanent staff also saw their salaries rise strongly, at the fastest rate since May of last year.

Providing an image of conditions in the work market, the HBOS barometer hit 54.0 for April. In March, it sat at 53.0. This shows there has been a significant improvement, with Donald MacRae, HBOS’s chief economist, saying:

“These results provide further evidence for the Scottish economy beginning to demonstrate a more robust recovery.”

Many companies are now working to improve their market condition, and thereby create new jobs, having taken action to reduce reliance on credit lines. Often this has been achieved by working with Scottish factoring companies. The figures show that all efforts seem to be working.

Welcoming the news, John Swinney, the Finance Secretary, also said the data supported that released last week by the Office for National Statistics. He went on to say:

“Scotland continues to show a higher employment rate and lower unemployment than the UK.”

Swinney also took the opportunity to highlight other key areas where Scotland is outperforming the UK, such as youth employment.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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