Demand Continues To Outstrip Supply In The Job Market

Demand continues to outstrip supply in the job market forcing employers to improve their packages

With unemployment levels at their lowest rate for 42 years, demand for both permanent and temporary staff is rising with employers needing to offer more attractive pay rates to appeal to suitable candidates.

In the latest monthly Report on Jobs commissioned by the Recruitment and Employment Confederation the number of staff appointments for both permanent and temporary positions have increased at their fastest rate for over two years whilst candidate availability declines.

Some industry observers have commented that the Brexit vote has had a direct impact on the number of people looking for work as some EU nationals have decided to return to their countries of origin with this being more prevalent in London and the south east.

·         Starting salaries for permanent candidates rose again in July alongside hourly pay rates for temporary staff.

·         Demand for staff in the private sector is increasing more than that in the public sector

·         Demand for permanent staff in the Accountancy and Financial Services sector increased by 10% over the last 12 months

·         Accountancy and Financial Services is now the second most in demand sector for permanent staff

·         Recruitment consultants across the UK reported specific shortages in the number of candidates for Audit, Accounts, Cost Management, Finance, Payroll, Risk, and Treasury in the Accountancy and Financial Services sector.

Colin Douglas, director of Accountancy Recruitment Wales, says the findings of the UK wide report are mirrored in the South Wales accountancy job market. He said, ”We’ve seen a huge increase in the number of roles we are currently recruiting for on behalf of our clients and a drastic reduction of available candidates.  Recruitment agencies are working harder and smarter to find the right candidates, utilising new and innovative methods to find the best talent available.  In addition, we are working with our clients to help them create attractive job descriptions and packages that we know will generate interest and be competitive when compared with similar roles being advertised.”

Article published: 24/08/2017

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