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UK Job demand steady in August, but salaries slip down

UK Job demand steady in August, but salaries slip down

Reed Job Index stays at 122

Employer demand for new UK workers stayed steady in August, bucking the normal summer slump, to give an overall Reed Job Index reading of 122. Although demand in some sectors fell, it rose in others to maintain the same month on month level.

This is a twenty per cent rise in year on year employer demand, with a fifth more jobs available now than in August twelve months ago.  New job numbers have increased 22% from when the index began in December 2009 when the baseline was set at 100, according to the report compiled from over 8,000 organisations by the UK’s leading recruitment site reed.co.uk

Salaries for new jobs fell back across the board however, with the Reed Job Index down two points (two per cent) in August compared to July, to read 97.  This means that salaries for new jobs are three per cent lower now in real terms than they were in December 2009.

New job demand dropped back across a range of job sectors from financial services to manufacturing.  Consumer-facing sectors saw the largest falls - with Retail jobs dropping by 16 index points from July’s record high.  Demand for new Public Sector staff slipped back again to nearly half its level when the Index began.

However rising demand for new workers in other job sectors balanced the falls.  Core job areas from qualified accountants and purchasing professionals to administrative, marketing, media, digital and creative staff all experienced rising demand.

Across the UK the picture was also mixed with demand for new staff in London, the North East, Yorkshire & Humberside, the West Midlands and Scotland on the up. Northern Ireland bounced back in August with an impressive 15 point rise compared with July. While demand remained flat in the South East, falls were experienced in East Anglia, the East Midlands, the North West and the South West of England.

Martin Warnes, Managing Director of reed.co.uk, comments on the Reed Job Index for August:

“Even though the jobs market is flat, our figures indicate that there are a fifth more new jobs available now than there were 12 months ago.  Employers are able to attract the people they need and are investing in the future with skilled staff such as qualified accountants, purchasing professionals and marketers. 

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