Scottish Labor Market Growth Weakest Since 2010, BoS Says

The Scottish labour market expanded in the third quarter at the slowest rate since the last three months of 2010, according to the Bank of Scotland Labour Market Barometer published today.

The barometer for the quarter was 51.6 -- anything above 50 represents expansion -- down from 54.3 in the three months through June, and 50.6 in the fourth quarter of 2010, the bank said. It declined to 52.3 in September from 52.4 a month earlier. As well as the number of placements, the barometer also includes vacancies, availability for work and salaries.

The number of people placed in permanent jobs reached a four month high, while the number who found temporary work was the highest since April, the Edinburgh-based unit of Lloyds Banking Group Plc (LLOY) said in an e-mailed statement

“Scotland’s job market continued to improve in September with a welcome increase in people appointed to both permanent and temporary jobs alongside a rising number of vacancies,” Donald MacRae, Bank of Scotland’s chief economist, said in the statement.

The Scottish labour market has expanded every month over the past year, while the U.K. market contracted in five of the past 12 months, according to data from KMPG and the Recruitment and Employment Federation. The Scottish labour market last shrank in October 2010, the bank said.

To contact the reporter on this story: Peter Woodifield in Edinburgh at pwoodifield@bloomberg.net.

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net

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