Job vacancies in England are rising at the fastest rate in 15 years; salaries and new appointments are also on an upward slant.
In the latest sign of economic growth and increased strength in the job market, demand for new staff has risen at the fastest rate since 1998.
A recent report published by the accountancy firm KPMG and the Recruitment and Employment Federation shows that Britain also saw an increase in salary growth and new appointments in November; in fact, the rate of salary increases for permanent positions is at a six-year high. These improvements have been recorded across all England's regions in both the private and public sectors. This widespread growth indicates a broad-based recovery in the labour market itself.
The fastest-growing sectors for permanent positions include engineering and medical. Blue-collar workers are also seeing an increase in temporary and contract vacancies.
Such growth is often indicative of employers feeling more confident in the economy and in the market as a whole; however, as job listings are on the rise, the availability of suitable candidates to fill permanent roles is slowing. This will put pressure on hiring companies.
"As a result, employers are trying to tempt top talent to change jobs by offering more in the way of cash or incentives. It’s a tactic that may bring short-term success, but the risk of falsely inflating the jobs market must be considered. Left unchecked, it could put unnecessary and unsustainable pressure on businesses just at the time their cash flow problems are easing,” explains partner and head of business services at KPMG, Bernard Brown.