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Job market showing resilience in face of market uncertainty, reveals Adzuna

Data from the job search engine Adzuna has called into question reports suggesting the UK has been shedding jobs, with a rise in the number of online job vacancies from the 2nd to the 8th July bringing to an end a slight initial post-referendum decline.


After a subdued mid-June in which employers appear to have put off hiring decisions in anticipation of the EU referendum vote, the latest job vacancies data from Adzuna suggests a return to normality. From July 2nd to 8th, the second full week after the vote result, there was a 16% week-on-week rise in the number of jobs being posted across the UK, bouncing back from an initial post-referendum dip in job openings. These 636,603 vacancies represented the most new job postings in a single week since early June.


Overall, the number of jobs posted across the UK since the referendum (from 24th June to 10th July) has grown by 1.4% per day.


Looking at jobs at a regional level, the data shows gains across the country, with Wales and Northern Ireland showing the fastest growth.


There has not been growth across all sectors, however, with daily job postings for sales (-0.6%) and hospitality and catering (-1%) roles falling slightly since the vote. Though there has been concern about jobs in finance being moved abroad, this sector has seen a 1.0% growth in new vacancies posted. Property vacancies meanwhile rose by 9.1% - the biggest growth rate of any sector - no doubt in part because of a backlog of vacancies being advertised after the vote announcement.


Doug Monro, Adzuna co-founder and CEO, commented, "As a job search engine that indexes almost every job advert in the UK in real time, we are uniquely positioned to see what is happening to the economy in real time.


“In the first 10 days of July, we have seen a promising upturn in the number of jobs being posted, reversing several weeks of slight decline. Given summer seasonality, we see this as an encouraging sign of a normal labour market, and in no means consistent with some of the disaster scenarios some people have feared. Businesses still need to hire and have placed over half a million new job ads in the last week, with over 1 million unique positions actively hiring. There is reason for our new Prime Minister to be cautiously optimistic."



Jobs posted online: 30 April - 8 July




Total Jobs Posted

Weekly Change

30 Apr-10 Jun (Average of 6 weeks)

691,578


11-17 Jun

619,287

-10.5%

18-24 Jun

585,454

-5.5%

25 Jun - 1 Jul

548,683

-6.3%

2-8 Jul

636,603

16.0%


Total Online Vacancies by Month, With Year on Year Change



2015

2016

Year on year change

Total Jobs May

1,082,954

1,150,502

6.24%

Total Jobs June

1,123,518

1,177,891

4.84%




Average Daily Growth by Region from June 24 - July 10


Region

Average Daily Growth

UK

1.4%

Eastern England

0.7%

East Midlands

1.4%

London

1.3%

North East England

1.4%

Northern Ireland

2.7%

North West England

1.5%

Scotland

0.6%

South East England

1.2%

South West England

1.3%

Wales

2.0%

West Midlands

1.4%

Yorkshire And The Humber

1.3%








Average Daily Growth of Selected Sectors from June 24 - July 10



Sector

Average Daily Growth

Property

9.1%

Engineering

2.6%

Trade & Construction

2.6%

Healthcare & Nursing

2.1%

Consultancy

1.9%

Manufacturing

1.5%

IT

1.3%

Accounting & Finance

1.0%

Legal

1.0%

PR, Advertising & Marketing

0.6%

Logistics & Warehouse

0.4%

Sales

-0.6%

Hospitality & Catering

-1.0%


-ENDS-

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