Improving Scots jobs market leads rest of UK

The latest Bank of Scotland study on jobs showed the rate of growth in permanent placements was the fastest since May.

The bank’s labour market barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – registered 53.9 in October, up from 53.3 in September.

Notably, the barometer remained higher than the UK equivalent, which fell below the 50 no-change mark to indicate a deterioration in overall UK labour market conditions.

Donald MacRae, chief economist at Bank of Scotland, said the Scottish economy was demonstrating resilience in difficult conditions.

“Both the number of people employed and vacancies advertised grew, maintaining the lead over the rest of the UK,” he said.

“However, this improving trend will be challenging to maintain in the face of the global slowdown.”

Recruitment agencies in Dundee and Aberdeen saw the biggest improvements, while services such as IT, computing and accounting were the most buoyant sectors.

The report comes after Glasgow-based entrepreneur Willie Haughey told Scotland on Sunday he would spend £2 million of his own money to support 100 apprenticeships.

The City Refrigeration Holdings boss hopes other business leaders will follow suit.