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UK permanent jobs rise at fastest pace in nearly four years: survey

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(GlobalPost/GlobalPost)

LONDON (Reuters) - Permanent job placements in Britain rose at the fastest pace in almost four years last month and salaries are picking up too, a survey showed on Friday, in the latest sign of recovery in the labor market.

A monthly index measuring permanent job placements from consultancy KPMG and the Recruitment and Employment Confederation rose to 65.2 in February, its highest level since March 2010, compared with 62.1 in January.

Readings above 50 signify growth in the number of placements.

The survey, compiled by data firm Markit, showed the salaries for permanent staff increased at the fastest rate since October 2007 although the number of temporary billings eased.

The Bank of England has stressed the link between spare capacity, predominantly in the labor market, and its thinking on interest rates.

Britain's jobless rate edged up unexpectedly for the first time in nearly a year in the three months to December, a week after its previously rapid fall had forced the BoE to stress that it was in no rush to raise interest rates.

Economists polled by Reuters expect unemployment will fall in the current quarter and thereafter, to reach 6.7 percent by the end of the year.

(Reporting by Andy Bruce; Editing by William Schomberg)

http://www.globalpost.com/dispatch/news/thomson-reuters/140306/uk-permanent-jobs-rise-at-fastest-pace-nearly-four-years-survey