Employer Demand Drops 3% In March, As Reed Job Index Reads 102
on: June 04, 2010, 11:30 am
Mixed signals for the UK economy on brink of Election call as
demand for top finance and business services staff rises 4%
Demand from UK employers for new workers fell back overall in March, according to
the Reed Job Index published today (Tuesday 6 April 2010).
The number of new job opportunities fell by 3 Index points (3%) to give a Reed Job
Index reading of 102 in March compared to February’s high of 105.
In contrast, demand for key business services professionals across finance, general
insurance and marketing rose in March. Employer demand for staff in these career
sectors increased by 5 Index points (4%) compared to February, indicating growing
confidence in this pre-recessionary heartland of the British economy.
Each month the Reed Job Index tracks the number of new job opportunities on offer
compared to the previous month and against a baseline of 100 set in December last
year. The Reed Job Index is based on data from the UK’s largest job board,
reed.co.uk, which every day lists over 90,000 job opportunities from 8,000
recruiters across 37 career sectors throughout the UK.
The Reed Job Index figure stands at 102 in March, a 3 point decrease compared to
February’s high of 105 – although it is still 2 points above December last year when
the Index baseline was first set at 100.
However demand remained high for staff across the business services sector. New
vacancy numbers rose most for Qualified Accountants, General Insurance plus Strategy
and Consultancy professionals, with increased demand for Marketing and PR, and
Banking staff close behind.
Demand fell most for Engineering, Scientific, and Manufacturing staff, demonstrating
the continued weakness of these sectors in spite of the extra government support for
them announced in last month’s Budget.
At the same time, the Public Sector Reed Index figure stands at 79, with demand for
new staff lower in this sector than any other – although it has risen slightly above
February’s low of 76.
Martin Warnes, Managing Director of reed.co.uk, comments on the Reed Job Index for March:
“Mixed economic signals are emerging from the latest Reed Job Index. Overall demand
for new staff has dropped back in March, reversing the slow but steady rise in of
vacancies that began at the turn of the year. While new jobs are still at a higher
level than last year, across the board employers have become more cautious about
committing to new recruitment.
“At the same time, new jobs in key business services and insurance areas have surged
upwards in March. Demand for qualified accountants and strategic consultants are
now at their highest levels since the Reed Job Index was set last year, in spite of
pre-election jitters in the City. Although it is early days, this could indicate
that the Business Service sector will once again lead the UK economy out of
Interested in recruiting? For more information on recruitment and jobs offered by Reed
Specialist Recruitment, please visit their website reedglobal.com. http://www.reedglobal.com