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Job opportunities rise to 23-month high, 20% up year on year

Job opportunities rise to 23-month high, 20% up year on year

Reed Job Index up 4 points to 133 in November

New job opportunities 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 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 re-balancing 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.”

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