What has changed?

According to the recent “report on jobs” published on the 9th of January regarding the UK labour market, permanent staff appointments increased during December 2017. So what changed in 2017 and what does this data suggest for companies recruiting?

 

 

The latest data published by the Office Of National statistics showed that 32.08 million people were working during October-December.

 

 

 

This figure may be lower compared to the figures published during the summer of 2017, although it represents an increase of 325,000 compared to 2016. As a result, the UK employment rate (75.1%) increased by 0.7% since 2016 and is close to a record high of 75.3%.

During the latest months of 2017:

The number or permanent placements slowed down during November 2017.

 

 

-The number of temporary placements increased while the growth in London was marked as the sharpest among the 5 monitored UK regions.

-During December, both permanent and temporary candidate availability declined with approximately similar rates.

 

 

 

 

-Both permanent and contract pay rates increased, although the pace for London was lower than the UK average. 21% of recruitment agencies reported higher starting salaries during the late months of 2017.

-Strong demand for staff and less skilled candidates for every role might be a possible explanation for this increase. The hourly pay rates for temporary positions continue to rise during December.

 

 

 

 

 

Moreover, the following were observed:

• Increased permanent and temporary placement across the UK (more evident in Midlands) during December with the steepest increase being evident in the private sector.
• Regarding candidate availability, the index showed that both temporary and permanent availability declined. The rates were evident across all 5 monitored UK regions, with London being the leading  one.
• Temporary rates also increased across the UK in December.

 

Even if the number of people finding jobs through recruiters is increasing, the available candidates for vacancies is decreasing. Thus, finding the “right” candidate for every job may be more difficult. As a result, companies need to improve their employer brand and find ways to make themselves an even more attractive place to work. By this way candidates will be more incentivised to secure a job and try and make themselves stand out from the crowd.