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UK – Number of jobs increase in April ahead of EU Referendum

16 May 2016

The number of available jobs in the UK increased to 8,070 in April from 7,215 in March, an 11% increase according to the latest Morgan McKinley Employment Monitor.

The report also showed that jobseeker numbers increased by 5% going from 12,998 in March to 13,679 in April.

“It was a subdued April,” said Hakan Enver, Operations Director, Morgan McKinley Financial Services. “Therefore, the positive monthly figures were somewhat of a surprise. Following the trend from March, we had more poor macro figures and more news of redundancies, which is testament to banks slowing down. It certainly felt like an uninspiring month. The market was volatile and it was tough on organisations. Hiring was restricted and organisations were slow to release jobs. So the numbers were somewhat comforting and perhaps there is light at the end of the tunnel.”

 Year-on-year, the number of available jobs decreased by 22% while the number of jobseekers increased by 18%.

Meanwhile, the upcoming EU Referendum in June has increased fears amongst employers that jobs will be lost if the UK decides to exit the European Union, according to Morgan McKinley.

“The leave campaign is doing well in the polls, but it’s still too early to make a prediction,” Enver said. “In the two previous referendums the polls have been wrong and it’s important to remember that despite today’s general perception and popular beliefs, things can change last minute.”

“We can expect a muted May and June. Although June is normally a busy month, everyone is waiting on the results of the Brexit referendum,” said Enver.