Scottish Economy: Recovery as jobs and salaries up

Scotland’s economy is beginning to show a more robust recovery with jobs and salaries on the rise, according to Bank of Scotland.

Donald MacRae gave cause for optimism. Picture: Comp

Its latest report on jobs, which covers last month, signals the strongest increase in permanent appointments for a year.

Temporary placements also grew at a faster rate, reaching a three-month high.

Recruiters largely link the rise in permanent placements to greater client demand and a more buoyant labour market, the report finds.

Average pay continued to increase in April, with permanent staff seeing the strongest rise in salaries since May last year.

Vacancies

Bank of Scotland chief economist Donald MacRae said: “April’s labour market barometer rose for the second month in a row to the highest level of 2013. Both the number of people placed into permanent and temporary jobs rose while vacancies increased in the month. Salaries for permanent jobs showed the strongest rise since May 2012.

“These results provide further evidence for the Scottish economy beginning to demonstrate a more robust recovery.”

The news follows recent reports that suggest Scotland’s economy is showing signs of recovery.

Housing reports by the Royal Institution of Chartered Surveyors and s1homes recorded a steady rise in property sales and inquiries in April; Bank of Scotland recorded a rise in business activity and employment last month; Scotland’s three main airports saw more passengers in April than at the same time a year ago; and Aberdeen Chamber of Commerce reported a rise in investment and activity in North Sea oil and gas last year.