Skills Shortages Grow in London Job Market

The London jobs market continued to strengthen in July, with latest survey data from the Bank of Scotland London Labour Market Report pointing to a rise in permanent placements and also temporary staff billings over the month. The reportís unique ëBarometerí rose to its highest level for twenty-one months in July and signalled a strong rate of labour market growth. However, there were growing reports of skill shortages with candidate availability deteriorating at the sharpest rate for over two years.

Commenting, Tim Crawford, Group Economist at Bank of Scotland, said:

ìJuly was another strong month for the London jobs market with permanent job placements rising at the fastest pace in six months. Accounting and Finance along with engineering and construction were the strongest sectors in the Capitalís labour market.

However, the recent strength of the employment market in London has led to some skill shortages emerging. There was evidence that some London firms looked to fill vacancies by hiring short-term staff in July, reflected by the strongest rise in temp billings for five-and-a-half years.î


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