Full steam ahead for professional jobs market as vacancies and placements climb sharply
This has signalled a sustained recovery in the white collar job market. This is in line with recent data from CIPS Purchasing managers Index (PMI) which revealed that the services sector, one of the main drivers of the UK's economic growth, has continued to expand strongly with job creation at its highest level for four months.
Engineering reaps rewards of growing manufacturing sector
The PMI Index also reported better than expected growth in the manufacturing sector during February with employment expanding at its fastest pace in almost three years. This is a trend borne out by APSCo's data which revealed an average year on year increase in engineering placements across the permanent and temporary job market of almost 10%, with online advertised vacancies growing by almost 30% month on month.
Massive skill shortages across accounting and finance
While the services sector may be the biggest drive of economic growth it seems that in the accounting and finance arena, skills shortages are really beginning to take hold. APSCo's data reveals a hike of almost 30% in permanent job placements year on year and a rise in vacancies of just over 14%. Month on month these are growing at around 3%. However it is the temporary sector that tells the true story with placements up by a massive 41%. While this may be partly explained by organisations taking on contractors for specific projects, it also points to a lack of candidates in the market able or willing to take on a permanent role.
Ann Swain, Chief Executive of APSCo comments:
"While it is encouraging to see such strong growth in the professional jobs market, this has to be tempered with a note of caution. Strong economic growth can only be sustained if UK PLC has access to the right pool of talent - a pool that has to be in the right place at the right time. Under investment in people and training during a recession may be seen by some as an economic necessity - but as the recovery gains pace and the need for talent grows more urgent, organisations will begin to realise that it may in fact have been a false economy."