Q3 UK job volumes grow by over 5%
• Banking, financial services and supply chain vacancies grew by a fifth double digit rises recorded in IT, accountancy and treasury roles
• Biggest increases registered across London, the South East and Midlands as businesses invest in new staff
Job vacancies rose at a faster pace between July and September than across the first two quarters of 2013, according to the latest Robert Walters European Jobs Index of quarterly advertised vacancy levels.
In total, the number of available UK roles increased by more than 5% between the second and third quarters, building on a rise of 4% recorded over the first half of the year.
Strongly performing sectors included banking and financial services, where a combination of growing turnover and renewed demand in areas such as product control drove up Q3 job figures by 20%. Vacancies in supply chain and logistics grew by 22% as employers looked to increase operational efficiencies.
IT job volumes increased by 18%, bolstered by a rising tide of start-ups and the effects of several larger companies establishing a presence in the UK. Accounting and finance numbers were up 16%, fed by SME expansion and the need to hire supporting staff. Heightened business confidence has also translated into demand for treasury professionals as companies predict larger cash flows, generating a 13% rise in advertised vacancies.
The Midlands was the best performing region, posting a rise of 6% in quarterly vacancies. Demand also jumped in London and the South East by 2%. Regions across northern areas of the country fared less well, with job numbers dipping by 8% in the North East and North West.
Nonetheless, the data indicates that demand for key professionals continues to grow even where overall regional vacancy levels have fallen. Vacancies for IT professionals grew by 13% in the North West, while in Scotland, tax roles grew by 14%.
Financial services generated the largest increase in the capital, with quarterly job totals up by a third. Opportunities for professionals working in risk, compliance and treasury also rose sharply. In the Midlands, demand for supply chain experts led to a rise of 31% in available vacancies, with big increases also recorded in IT and risk.
Chris Hickey, CEO of Robert Walters UK, said, “It is encouraging that demand for many positions continues at a pace, with more and more individuals prepared to take roles outside of London and even commute from the capital. Banking and financial services is on the rise as institutions appear quietly confident that growth is sustainable, with many increasing the size of their revenue generating departments. Other encouraging signs of growth are coming from the IT sector as companies look to add staff to bolster their mobile and e-commerce teams.”