The Summer 2013 CIPD/Success Factors Labour Market Outlook (LMO) survey report shows that for the sixth quarter in a row, employers expect jobs growth – meaning more openings for job seekers but more competition among employers for the right candidates. The report shows that the net employment balance – which measures the difference between the proportion of employers who expect to increase staffing levels and the proportion who intend to reduce staffing levels – stands at +14. This is an increase from +9 in the previous quarter and the highest figure since the recession in 2008. However, employers do not expect wage growth to accelerate significantly. Among those LMO employers planning a pay review in the twelve months to February 2014, the average anticipated settlement for basic pay (excluding bonuses) was 1.7%, unchanged from the previous quarter.
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