Burgeoning Scottish market leaves UK labour market behind |
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Tue, 19 Jul 2005 06:05
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According to a recent survey, it was disclosed that the labour market in Scotland had outdone trends in the UK as the demand for labour and considerable rise in pay packages was noticed.
It was notified by the Bank of Scotland that the Scottish market had undergone reasonable and positive transformation over the past 23 months. The employment of staff for permanent as well as temporary positions had gone up the ladder and in fact, there seemed to be a dearth of expertise for jobs in the market.
Scotland exceeded the UK initially in June, i.e. at least two years of the Bank of Scotland keeping a monthly account. Statistics with the Labour Market Report surpassed the UK regarding the pace of development, as the improvement rate of the Scottish Labour Market stood tall at 57.4%, against the 55.7% average rate of improvement in the UK.
Moreover, with news of a “skills shortage” in the market, the average salaries of employed staff, particularly for permanent jobs were hitting lucrative heights.
Group economist at the Bank of Scotland, Tim Crawford, commented on the enhanced job market in Scotland, saying that it was an optimistic sign “for the near-term economic outlook.” He added, “The jobs market in Scotland is still quite tight at the moment with skill shortages reported by a number of recruiters and pay rates continuing to rise.”
It was also noticed that difficult business circumstances in the country were making recruiters employing temporary staff more than permanent workers. While Edinburgh displayed the highest rise in employment at temporary positions, Glasgow reported the maximum expansion in permanent staff.
Meanwhile, the most popular category in the permanent jobs market was IT and computing, whereas engineering and construction saw the highest demand in the temporary staff market.
The Scottish Council for Development and Industry, however, sent out a warning regarding the insufficiency of trained manpower, with its spokesperson saying, “The rise in wage levels is a problem for the whole Scottish economy, but its obviously the case that small business suffers more as it does not have the resources to fund graduate recruitment programmes and is less able to absorb rising manpower costs.”
He mentioned further the significance of the private sector and said, “The Executive needs to note that the public sector is sucking in talented graduates. We need to make a serious attempt to restructure the economy in favour of the private sector.”
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