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Job Opportunities Rise to 23-Month High, 20% Up Year on Year, Report reed.co.ukReed Job Index Up 4 Points to 133 in November (December 06, 2011)
LONDON, UNITED KINGDOM -- (Marketwire) -- 12/06/11 -- New opportunities for jobs across the UK have bucked the gloomy economic news and risen to their highest level for nearly two years, according to the reed Job Index for November which stands at 133. Employer demand for new staff is a third higher than it was 23 months ago, and 20 per cent higher than the same time last year.
This builds on the growth in employer demand seen in October's Index, and shows new job opportunities at their highest level since the reed Job Index was started in December 2009. November's reed Job Index standing of 133 is 4 index points (3 per cent) up from October.
Growth in new jobs has been led by London, the South East and the North West, and has risen in more than half of the UK areas analysed by the Index. However growth hasn't been uniform, and 5 out of the 12 areas - including Wales, the North East of England and Scotland - show falls in employer demand this month.
At the same time, increased employer demand has spread right across a wide variety of private sector jobs, led by technical roles such as engineering and IT jobs alongside service sector roles such as accountancy, leisure and tourism. In contrast, public sector recruitment has fallen back 6 points (5 per cent) in November compared to October, to give a subdued reed Public Sector Job Index level of 60 Index points.
The reed Job Index is compiled by the UK's number one job site reed.co.uk through analysis of job advertisement trends from over 9,000 recruiters throughout the UK tracked against a baseline which was set at 100 in December 2009.
James Reed, Chairman of reed.co.uk's parent company Reed Global, comments on the reed Job Index for November:
"The latest reed Job Index shows that confidence about the future has continued to increase right across the private sector, in spite of last week's gloomy economic pronouncements. Not only is employer demand up by twenty per cent year on year, newly available private sector jobs are at their highest level since the dark days which followed the last banking crisis. There are even signs that the British economy is rebalancing towards the industrial sector, with demand for technical staff such as engineering and IT specialists 90 per cent higher now than when our Index began 23 months ago.
"Caution remains, with salaries for new jobs staying low, and growth more patchy outside the regional powerhouses of London, the South East and North West. Only fools forecast, and increasing turmoil in the Eurozone makes us all wary of plotting a clear path forwards. At the same time the reed Job Index has proved to be a reliable leading economic indicator, and certainly demonstrates that the underlying appetite for growth across the private sector is at a higher level than some commentators believe."
NOTES FOR EDITORS
- Each month the reed Job Index tracks the number of new job opportunities and the salaries on offer compared to the previous month and against a baseline of 100 set in December 2009. The reed Job Index is based on data from the UK's largest job board, reed.co.uk, which every day lists over 100,000 job opportunities from more than 9,000 recruiters across 37 career sectors throughout the UK.
- The reed Job Index is compiled by data drawn from on-line job vacancies and job-seeker activity on reed.co.uk.
- Independent measurement by Hitwise verifies that reed.co.uk has the highest market share of visits for any commercial job board in the UK.
- reed.co.uk is part of Reed Global, the international recruitment group of companies.
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