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UK starting salaries rise faster in February
March 8, 2016 / 7:22 AM / 2 years ago

UK starting salaries rise faster in February

LONDON (Reuters) - Starting salaries for newly recruited permanent staff in Britain rose in February at the fastest rate in three months, but pay growth for temporary workers was the weakest in nearly three years, a survey of recruiters showed on Tuesday.

Last month the BoE cut its forecast for British wage growth, which Governor Mark Carney named as a key determinant of future interest rates in a speech at the start of the year.

The Recruitment and Employment Confederation’s (REC) monthly jobs report pointed to the biggest rise in hiring of permanent staff in three months last month, but warned that the labour market was at a “critical juncture”.

The REC cited Britain’s June 23 referendum on membership of the European Union, turmoil in the global economy and finance minister George Osborne’s annual budget next Wednesday as sources of uncertainty for employers.

“The Recruitment and Employment Confederation calls on the government to avoid further destabilising the UK jobs market in next week’s budget,” REC chief executive Kevin Green said.

He added that the introduction of a higher national minimum wage and tax changes in April might disrupt hiring by many businesses.

Reporting by Andy Bruce, editing by David Milliken

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