The Report on Jobs is a monthly publication produced by Markit and sponsored by the Recruitment and Employment Confederation and KPMG LLP.
The report features original survey data which provide the most up-to-date monthly picture of recruitment, employment, staff availability and employee earnings trends available.
Key points from the May survey:
Growth of permanent placements eases, but remains marked overall
Temp billings rise at faster pace
Permanent salary growth remains strong
Commenting on the latest survey results, Bernard Brown, Partner at KPMG, said:
“The UK job market saw a slight slowdown in May, as those on boards took time to digest the election result and work out the ramifications for their business. This pause did not dampen temporary staff placements, and temp billings rose for a twenty-fifth consecutive month.
“Growth in the services sector continued to outpace that of Britain’s heavy industries, with the former seeing a significantly stronger appetite for new hires to keep up with the volume of new orders coming in. These statistics will add more weight to the fears that the economy is not rebalancing as hoped, and are a worrying reminder of the recovery’s reliance on the performance of the white collar service sector.
“While elements of the private sector are thriving, the public sector continues to suffer, with pay growth rising by just 0.2% in the last reported quarter. This stagnation is in stark contrast with the pay awards seen in Britain’s businesses, whose staff saw average rises of 2.4%, driven by the booming service sector. With the Government’s continued focus on austerity, this imbalance is unlikely to be readdressed in the near future.”