- First rise in permanent placements since April; contract billings increase sharply
- Growth of demand for permanent staff hits eight-month high…
- …but availability fall at steepest rate since August
Permanent placements increase for first time since April
The number of newly-placed permanent starters in London rose for the first time in seven months during November. Though only slight, the latest expansion was the strongest since February. However, the rise in the capital remained comfortably slower than the UK average.
Sharp rise in contract billings
November data pointed to marked growth of contract billings in London. The rate of expansion picked up to the fastest since April, and was also above the UK average for the first time in eight months.
Permanent staff supply drops substantially
The amount of candidates available to fulfill permanent roles continued to fall in November. That marked a three-and-a-half year downturn in supply. Moreover the rate of decline accelerated to the fastest in three months and was only slightly slower than the UK average
Fall in contract supply quickens
After having almost stabilised in October, contract supply in the capital fell solidly during November, That said, the pace of contraction remained muted relative to the average over the current 40-month period of decline. It was also weaker than that seen across the UK as a whole.
The rate of permanent salary growth in London rebounded to a three-month high during November. The latest rise was robust overall and above the long-run series average. It remained slower than the trend across the UK, however, which pucked up to the strongest since May.
Contract pay rates
Contract pay rose for the second straight month in November, following a stagnation at the end of the third quarter. Furthermore, the rate of pay growth accelerated in the latest period to the most marked since March. The rise in the capital also outstripped the UK average.
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