ICAP has today released January data for the UK Labour Market Indices
ICAP, the world’s leading interdealer broker and provider of post trade risk and information services, has today released January data for the UK Labour Market Indices.
Sharp increases in jobseeker demand pushes ICAP’s LMI Unemployment Index to record highs in January and suggests a challenging start to the year for the UK labour market. Jobseeker enthusiasm has returned to the market in January, with record applications per job advertised however, employment opportunities have failed to improve markedly since this time last year and the market appears unable to meet this demand.
Highlights from the January data release: Month-on-month, both permanent and temporary vacancies grew strongly in January following the seasonally quieter recruitment month of December (50.6% and 55.8% respectively).
Year-on-year, growth was more moderate, with permanent vacancies up 1.7% and temporary vacancies up 10.6%.
A 12.1% increase in applications per vacancy in January suggests the claimant count may start to level out or increase.
For the third consecutive month, average offered salaries increased on a 3month rolling basis (2.1%), reaching the highest level in ten months.
Defence & Military continued its strong permanent vacancy growth, recording a 23.4% quarter on quarter increase and 12.7% growth over the equivalent period last year.
Medical & Nursing once again had the strongest temporary vacancy growth over the three months, delivering 26.2% quarter-on-quarter and 67.6% year-on-year increases.