LONDON, UNITED KINGDOM--(Marketwire - July 5, 2012) -
- Job opportunities up again year on year according to latest Reed Job Index
- Automotive, healthcare and engineering sectors show particularly encouraging signs
- Part-time opportunities soaring
- 11 out of 12 regions enjoying annual job growth
- Salaries remain flat
The growing optimism surrounding the jobs market continued in June, with new vacancies increasing by 7.4% year on year, according to the latest Reed Job Index.
The monthly measure of conditions and trends in the jobs market, the largest of its kind in the UK, indicates that although monthly growth fell back slightly (-4.8%), annual job volume is growing steadily and the majority of the nation's employment sectors are posting more jobs than this time last year. Sector-wise, the figures show motoring and automotive, health and medicine and social care roles faring strongest, recording massive annual growth of 79%, 66% and 61% respectively. The engineering sector is also particularly noteworthy, boasting the highest index score of all sectors (243) and enjoying 34% annual growth.
Overall, the Reed Job Index now stands at 134 compared with 125 this time last year and 141 in May.
Interestingly, part-time working appears to be significantly on the rise, with new opportunities up a significant 112% year on year. Indeed, part time jobs now make up over 6% of total job opportunities in the UK, compared with 3% this time last year.
Around the UK, the number of job opportunities available compared with 2011 is higher in 11 out of 12 regions, with only East Anglia showing a slight fall (-0.65%) and Northern Ireland (18%), the East Midlands (16%) and the West Midlands (14%) seeing the biggest jump in opportunities. Furthermore, job opportunities in London continue to flourish, increasing by 9% year on year.
The index confirms national salary growth remains flat, registering 0% annual and monthly growth. Overall, the Reed Salary Index now stands at 98 as it did last month and in June 2011.
Commenting on the latest figures, Martin Warnes, managing director at reed.co.uk, says:
"Following two months of encouraging figures, we can say with some confidence that the UK jobs market is in a significantly healthier position than it was this time last year.
"Though month on month growth fell back slightly, largely due to the extended bank holiday period, broadly speaking, job opportunities are growing healthily across many sectors and in the vast majority of regions.
"A good news story arising from the figures is the buoyancy of the automotive and engineering sectors. Recent developments in the car industry, particularly in the West Midlands and also in the North West, have provided a major boost to job prospects within both fields, which continue to play such a major role in the overall health of the jobs market and wider UK economy.
"The rise in part-time opportunities is also noteworthy, reflecting a growing flexibility and open-minded approach on the part of employers to look for ways to retain roles and sustain business development in a challenging economy."
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 10,000 recruiters throughout the UK tracked against a baseline of 100 established in December 2009.
Notes to 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 and 12 regions 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.
-- reed.co.uk is the UK's largest commercial job board, with over 100,000 job opportunities from more than 8,000 recruiters at any one time.
-- 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.
To view the Reed Job and Salary Index figures, please visit: http://media3.marketwire.com/docs/reed_JI.pdf.