The earnings of British workers picked up in the three months to July but still lagged far behind inflation, even as unemployment fell more than expected, official data showed.

The data from the Office for National Statistics also showed the slowest growth in employment in more than a year, suggesting some of the strength in the labour market might be easing.

The Bank of England has put pay at the centre of its thinking on when to raise interest rates and Wednesday’s data helped explain why it halved its forecasts for earnings growth in 2014 to 1.25 percent.

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Sep/14

23

UK: August 2014 Figures

The recovery in the jobs market stalled in August, with 3% fewer new vacancies available than in July, according to new figures released by reed.co.uk.

The number of jobs on offer in August was at its lowest since May, as the Reed Job Index of new vacancies fell for the first time this year.

Annual growth remains encouraging, but August’s figures remind us that we cannot take the recovery for granted. The four months until Christmas will tell us a lot about just how sustainable the recovery is.

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City recruitment feels impact of summer slowdown but hiring levels move in right direction year-on-year

Monitoring the pulse of the City Jobs Market since 2004

Job availability in the City up 18%

Active jobseekers in the City up 27%

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Traditionally, the month of August is generally a slow month in the world of recruitment; however this was not the case within compliance, most noticeably within the generalist space. There was a strong demand for compliance candidates from a good asset management background, ideally 3-5+ year’s experience. Candidates with strong financial promotions experience remain desirable.

During the past few months, the focus has been on the mid-level generalists; however firms are now looking for senior candidates with specialist knowledge of a particular asset class (fixed income, equities etc…) to join their existing teams. We expect the demand for generalists to continue, with candidates expecting to see a 10% increase on salary.

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Sep/14

22

NZ: Job Ads Rose In August

They were strongest in Auckland and earthquake-hit Canterbury, but fell in other regions as internet-based advertising increased.

Internet job advertising rose by 1 percent in the month.

ANZ Bank economist Sharon Zollner said recent results have been up and down, but the overall trend points to lower employment growth.

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Scottish independence would provide a unique opportunity for Scotland to create jobs within the country, according to Scotland’s deputy first minister Nicola Sturgeon.

Sturgeon was speaking on a visit to Steel Engineering in Renfrew. She claimed that Scotland is “among the wealthiest countries in the world” and would benefit from the chance to control its jobs market.

Countering that view, former prime minister Gordon Brown claimed independence would put at risks one million jobs dependent on trade with the rest of the UK. “This is not the fear of the unknown – this is now the risks of the known,” he said at a community event in Glasgow. “An economic minefield where problems could implode at any time, an economic trapdoor down which we go, from which we might never escape.

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Sep/14

19

NZ: Migration Boom Hits Record High

The migration boom has hit a record high, with a net gain of 43,500 people in the year to August.

The migration flood into New Zealand is set to hit a net gain of 50,000 late this year or early next year, economists say.

The new peak in migration had been driven by more arrivals, including many Kiwis returning from Australia, and fewer people leaving New Zealand for Australia, Statistics New Zealand said.

The job market has picked up in New Zealand, with more than 80,000 new jobs in the past year and as many more expected in the coming 12 months as the building boom continues in Canterbury and Auckland especially.

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The jobs boom of the past year is likely to be repeated in the next 12 months, with tens of thousands more jobs created as the strong economy rolls on, economists say.

The solid pace of growth should also see a gradual improvement in wages, too.

Official figures out yesterday showed the economy grew 0.7 per cent in the June quarter, boosted by strong growth in the services sector, which posted the best improvement for more than seven years.

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Recruitment agencies looking for IT professionals may have to start finding new overseas markets, a study by business and tech recruiter ReThink Recruitment has found.

It found more IT workers from India were choosing to stay in their own country, meaning it was becoming less reliable for organisations to plug talent with such workers.

It credited the workers’ choice to improvements in the economy and fewer visas being granted.

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The majority of Australian accounting students are now foreign, The Australian Financial Review reports. 79% of Australian graduate accounting students hailed from overseas in 2013, with 55% of international students comprising undergraduate scholars in the field as well. Accounting was only behind business and management enrollment for international students in the Australian collegiate system last year.

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