Manufacturing and retail jobs drive jobs market growth
Data released this week by reed.co.uk shows that the jobs market continued to grow throughout November, up 7% on the same time last year. Overall, the Reed Job Index stands at 298 for November, just short of last month’s record high.
According to the figures, manufacturing and retail are amongst the sectors driving this annual growth, rising by 21% and 22% respectively compared to last year.
James Reed, chairman of reed.co.uk, commented, “It’s encouraging to see that more jobs are being created in manufacturing, as it has such a positive effect on the wider economy.
“As we produce more goods, the benefits ripple out into supply chains and the gains are felt amongst the wider workforce.
“Our data supports recent findings from both the manufacturers’ organisation, the EEF, and the manufacturing purchasing managers’ index (PMI), both of which point to a renewed confidence in the sector following a dip after the Brexit vote, particularly amongst exporters.
“But whilst this growth is encouraging, it is also fragile and will only be sustained by ensuring British businesses get the best possible access to the single market, so we can continue to sell competitively to a market of 500 million consumers.”
There are warning signs elsewhere, however, with jobs in the training sector falling by more than 50% in November compared to the same month last year, whilst new apprenticeships fell by over 30%.
The banking sector also saw a decline, with the number of advertised jobs down 14% year-on-year.
Overall, the regional picture for November was positive, with all regions enjoying a year-on-year rise in jobs advertised. Northern Ireland, Wales and the East Midlands saw the biggest increases in new opportunities (41%, 22% and 15% year-on-year growth respectively).
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