Job vacancies rising at fastest pace since 1998

Despite its positive headline, the latest jobs report released on Friday (7th Feb) has been met with mixed reactions from industry professionals. Produced by the Recruitment and Employment Confederation (REC) in conjunction with KPMG LLP, the survey revealed that job vacancy numbers are rising at a 15 year high, with notable peaks in performance across a range of sectors.

Yet with many good news pieces, there is a downside, with declining availability of candidates and skills shortages becoming problematic for a number of industries. This subsequently raises concern for economic growth on the whole as businesses struggle to find and maintain the right workforce to make a meaningful contribution to recovery.

Interestingly, statements are now being made surrounding careers guidance - in particular, what sort of advice is currently being given versus what advice should be readily available.

Tom Hadley, director of policy at the REC, said: “Part of the solution is to develop a careers guidance network that is fit for purpose. People need to be made aware of the growing sectors and what skills will be needed in the future, they also need to be taught the mechanics of finding work.”

He added that job centres across the country needed support from local businesses and recruiters in order to equip their jobseekers with regionally relevant information and advice about what sort of jobs and careers there are in their area.

In the spirit of optimism, the team and I are focusing on the positives from the report, including the news that unemployment levels have fallen to their lowest in just under five years.

We will however heed the advice given by REC and its policymakers by continuing to actively support Peterborough’s economy and equipping our clients and candidates with expert, local knowledge. Our salary survey is one way in which we do this, providing local employers with incredibly useful data about pay and remuneration packages in their area.

Recent salary survey publications have demonstrated an upward trend in employer confidence, which is tentatively reflected in this newest report on jobs. Particularly pleasing are the further sharp rises in temporary billings –and with truly genuine benefits for both employer and employee we can see why.

All in all, a promising first report for 2014. Watch this space for further comments and updates…