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Employment - Permanent jobs in the UK rise at fastest pace for almost four years

posted 7 Mar 2014, 03:19 by Richard White   [ updated 26 May 2015, 04:47 ]
Permanent jobs in Britain rose at their fastest pace for almost four years last month and salaries are also on the rise according to a survey released today, another in a number of indications of a recovery in the jobs market.

A monthly index measuring permanent job placements compiled by data firm Markit increased to 65.2 in February 2013, representing its highest level since March 2010, this compares with a figure of 62.1 in January 2013. Values over 50 represent growth in the number of placements. 

The survey also showed that salaries for permanent staff rose at the fastest rate since October 2007, while interestingly the number of temporary placements eased.

The Bank of England has been keen to emphasise the link between employment rates and its approach to setting interest rates. Based on evidence in the three months to December 2013, the Bank stressed that it was in no hurry to raise interest rates.

Economists polled by Reuters expect that unemployment will fall in the current quarter and will continue thereafter to reach 6.7 per cent by the end of 2014.