Employment in the UK - January 2016

Employment in the UK - January 2016

Starting salaries for permanent and temporary jobs have risen at the slowest pace since October 2013.

The Recruitment and Employment Confederation found a 27 month low of 2.8pc, a very slow increase given economic growth in the last two years.

However, unemployment is at its lowest since early 2006, at 5.4pc.

In terms of housebuilding, the construction and manufacturing industry noted ongoing skill shortages.

The Midlands had the most job placements in January, followed by the North. London had the slowest growth.

This news comes when the Bank of England cut its own forecasts for economic growth in the next two years. Ruth Miller, UK economist at Capital Economics, said: “The Monetary Policy Committee needn’t worry about increasing the interest rate [while wage growth is low].”

A rise in 2016 is now looking increasingly unlikely.