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Salaries on the rise in London

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12/06/2006

The average wage in the Capital rose over the last month due to a strong demand for staff, a report from the Bank of Scotland has found.

The Bank of Scotland London Labour Market Report for May added that candidate availability continued to decline in May, due to a shortage of skilled workers, which led to further rises in wages and salaries.

Over the month all job vacancies increased, with demand the strongest for permanent employees in the IT and computing sector and for temporary workers in engineering and construction.

Tim Crawford, group economist at Bank of Scotland, said: “The London labour market continued to perform well in May and the Capital clearly has one of the strongest jobs markets in the country. However, some skill shortages are starting to emerge and this has contributed to a rise in salaries, which last month increased at the fastest rate for a year-and-a-half.”

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