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Post-Brexit jobs market remains buoyant, says REED

The REED Job Index of new jobs has reached its highest level since launching in 2009 – easing fears that Brexit would damage employment.

With 220,181 jobs posted on in October and 3,389,735 applications made in the same month, the index was up 6.7% year on year.

Growth was driven by large year on year rises in sectors including security and safety, graduate training and internships, and transport and logistics. Manufacturing and retail jobs both grew by more than a fifth year on year. 

The largest month on month growth came in the education sector where there were nearly a fifth more jobs available than the previous month.

Sectors which saw a year on year decline included apprenticeships, banking and leisure and tourism.

All regions showed year on year growth. The West Midlands showed the largest month on month growth with a 7.1% rise. Month on month, East Anglia was the only region with fewer jobs than in September, while Scotland had zero per cent growth.

James Reed, chairman of REED, said, “Our figures show that the job market remains buoyant nearly six months after the UK voted to leave the EU.

“These findings come on top of great news about Google going ahead with its £1billion office in King’s Cross and Nissan confirming it will build the Qashqai and X-Trail in Sunderland.

“Positive decisions like this from major international firms show that there is real confidence in post-Brexit Britain regardless of business leaders’ individual views on the referendum result.”

“Apprenticeships are down, but this could be because firms are holding back for the Apprenticeship Levy to launch in April next year.

“All regions apart from Scotland and East Anglia have demonstrated month on month growth, so – with those two exceptions – it is a healthy picture across the board.

“These figures are all taken from jobs advertised on, so they are a more up to date assessment of employment than the Government statistics published today, which cover the quarter up to the end of September.”

The REED Job Index tracks the number of new job opportunities on offer compared to the previous month and year against a baseline of 100 set in December 2009.

In October it reached 301, outperforming its previous high-water mark of 300 in May, before the referendum. In October 2015, the index figure was 282, meaning it has risen by 6.7% in a year.

Data is analysed across every major industry sector and UK regions and trends are highlighted in a monthly report.

Data for the index is compiled from, the UK’s largest jobs board, which every day lists over 250,000 job opportunities from 12, 000 recruiters across 42 career sectors throughout the UK.

Full REED job index breakdown for October 2016

By sector

YoY Growth:

1.         Security & Safety +55.0%

2.         Graduate Training & Internships +26.7%

3.         Transport & Logistics +23.3%

4.         Manufacturing +21.9%

5.         Retail +21.2%

YoY Decline:

1.         Apprenticeships -23.8%

2.         Banking -20.6%

3.         Leisure & Tourism -20.3%

4.         Scientific -4.5%

5.         Charity & Voluntary -4.5%

MoM Growth:

1.         Education +19.7%

2.         Security & Safety +15.4%

3.         Transport & Logistics +10.1%

4.         Graduate Training & Internships +8.5%

5.         Human Resources +7.9%

MoM Decline:

1.         Apprenticeships -12.4%

2.         Strategy & Consultancy -9.9%

3.         Training -9.5%

4.         Motoring & Automotive -3.3%

5.         Social Care -3.2%

By region

YoY Growth:

1.         Northern Ireland +43.7%

2.         Wales +14.5%

3.         West Midlands (Region) +12.2%

4.         East Midlands +9.9%

5.         Scotland 9.8%

6.         North West England +8.6%

7.         Yorkshire and Humberside +8.5%

8.         South West England +7.1%

9.         East Anglia +6.9%

10.       North East England +5.5%

11.       South East (excl. London) +4.1%

12.       London +2.4%

MoM Growth:

1.         West Midlands (Region) +7.1%

2.         London +5.6%

3.         Yorkshire and Humberside +.54%

4.         North West England +3.8%

5.         South East (excl. London) +3.3%

6.         East Midlands +3.2%

7.         Northern Ireland +2.5%

8.         Wales +1.7%

9.         North East England +1.1%

10.       South West England +1.0%

11.       Scotland +0.0%

12.       East Anglia -1.6%

Picture courtesy of Pixabay

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