The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs have shown there are a growing number of permanent and temporary placements in the UK - offering hope to workers in the country.
Commenting on the findings, Bernard Brown, Partner and Head of Business Services at KPMG, said: “Employer confidence continues to grow, with the thirst for new staff hitting a fifteen-and-a-half year high in January.”
The report claims to be the comprehensive guide to the UK labour market, consisting of original survey data provided by recruitment agencies.
According to the report, UK job vacancies are increasing at the fastest rate since May 1998. A sharp, accelerated period of growth seen in January this year means long-term employees saw more improvement in demand for their services, it adds.
It also shows there is a demand for staff in both the public and private sectors, with the latter seeing the fastest growth.
The report also states permanent salary growth remains virtually unchanged from the six year high recorded in December 2013, while hourly pay rates are increasing too.
However, Brown also had a warning, “No one should be fooled into thinking that the road ahead will be easy to travel. Earlier this week markets across the globe fell as investors were rattled by weak data.”
Although new vacancies are on the rise, the research suggests a decline in the availability of candidates.
Brown suggested this may be because employees are remaining and cautious, many are reluctant to commit longer term and so prefer temporary positions.
Tom Hadley from the REC added: “Part of the solution is to develop a careers guidance network that is fit for purpose, raises awareness of growth sectors and current and future skills needs.”