Recent data and analysis by the REC has shown a decline in staff availability and an increase in pay offers across most of the sector. REC Director of Policy Tom Hadley states ‘For individuals, now is a good time to look for a new job as you are in a strong position to negotiate higher pay’.
Permanent placements continued to grow, however April saw the slowest rise of this year. Anecdotal evidence suggests that growth of placements was underpinned by a further substantial rise in demand for staff and greater job vacancies. After a 13-month low, temp billings have seen a sharp rise but the pace of expansion remained softer than those seen through most of 2017.
With the continued demand for staff, the Report on Jobs Vacancy Index rose from 61.1 in March to signal the strongest upturn in demand for 3 months. Both Temp and Perm roles saw sharp increases, predominantly in the private sector however the public sector also saw continued rates of growth.
Overall, this amounted to a rise of 5.7% in job vacancies in the 3 months to March. Whilst a positive sign, this was down from a 7.1% rise seen in the previous period and shows the slowest growth since mid-2017.
Executive/professional positions, including legal services saw steady growth in it’s need for permanent staff, up to 4th (60.9) from 9th (59.2) the previous year. Temp contracts also saw growth that pushed it up to 7th (56.2) compared to last year’s entry at 10th (54.7).
The increase in positions has not been helped by the decrease in staff availability. The availability of candidates to fill permanent roles continued to decline markedly during April with the sttepest decline occurring in the South of England. Data also indicated that temp availability dropped for the 58th month in a row.
Permanent staff skills that have been reported to be in short supply include Legal, Litigation and Solicitors. Legal also appears in the list of skills shortages in the temp sector as well meaning there will be increased opportunities for legal professionals deciding to enter the job market.
All these factors combined have meant that there has been a rise in average starting salaries for candidates placed into permanent roles. Anecdotal evidence suggests this is a result of candidate shortages and a robust demand for staff. Temporary roles have seen an even steeper increase in pay due to the scarcity of suitably skilled staff.
As a candidate, now is a good time to be considering your next move. Demand for skills are up, as are starting wages and vacancy numbers. Here at Ambipro we are happy to discuss the legal landscape and help you consider the next steps in your career. A quick call to Ambipro is all it takes to get the ball rolling and there has not been a time as good as this to start making that change so it’s best to seize the moment and take that next step.
