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The latest monthly Employment Index for Europe published today by job board Monster Worldwide Inc, reveals that long-term online recruitment levels improved again, with the annual growth rate accelerating from +22% in December 2010 to +25% in January 2011.
The seasonal slow-down was mild, relative to what is typically seen at this time of year. Engineering and production, manufacturing, maintenance, repair recorded notably mild degrees of easing on the month. These sectors continue to be among the largest contributors to Europe’s overall job market turnaround.
Public sector job opportunities hit the lowest level since May 2010, reflecting significant cuts in government spending across the continent. Following a sharp rise in growth in education, training and library in December 2010 relating to the start of a new semester, the sector reduced to normal levels in January 2011 although remained up year-on-year.
Andrea Bertone, Vice-President of Business Operations at Monster Europe, commented "the long-term picture continues to improve, with Europe's industrial production, together with a high performing market in Germany, creating the highest annual growth rate seen since the recession."
"However, the Index shows the impact of tighter government spending, with significant reductions in public sector opportunities. The months ahead will be key as we see the currently-growing private sector react to these cut-backs."
Belgium: The Monster Employment Index Belgium demonstrated annual growth of +16% in January 2011, indicating continued long-term momentum in the Belgian labour market. However, online recruitment activity in January 2011 was down from December 2010 aligning with the seasonal precedent for the start of each year.
France: Online job demand exhibited seasonal easing of -7% in January 2011 while annual growth was reported at +23%, an accelerated year-on-year result compared to December 2010. Marketing, PR and media was the only sector to register a gain on the month, increasing one point (+1%), while other professional service sectors including research and development, IT and management and consulting logged relatively mild declines for this time of year.
Germany: While online recruitment eased on the month, the annual growth rate in January 2011 is the most rapid of the current economic cycle, with Germany remaining among the top trending European countries by measure of long-term growth in the Index. Year-on-year online demand has grown by +37%. Banking, finance and insurance, and accounting, audit, taxes were among professional service sectors to record improvement in long-term growth trends in January 2011, suggesting a slight return to confidence of employers in these sectors.
Italy: Online recruitment opportunities in Italy maintained steady long-term growth, while the sequential month view illustrated seasonal easing of -11% between December 2010 and January 2011.
Netherlands: The Monster Employment Index Netherlands eased month-on-month in January 2011 by three points (-3%), reflecting a relatively strong start to the year given the more dramatic December-January declines historically seen in the Index. Annual growth accelerated to +7%, up from December's +3% rate, reflecting a more robust pace of long-term improvement. Among industries, research and development, IT and engineering recruitment were strong for this time of year, with a resultant up-shift in annual growth.
Sweden: Online job opportunities grew by +32% annually. The monthly view revealed a dip of nine points (-6%) in January 2011, which aligns with seasonal patterns historically seen in the Index during the December-January transition period.
UK: The Monster Employment Index UK demonstrated a +15% increase in online job demand since January last year, suggesting positive momentum in the UK jobs market. IT led all sectors in terms of annual growth, exhibiting a +34% increase. Banking, finance and insurance was also slightly improved on the year. Month-on-month the Index showed a slight decline, but this is a usual trend for early January as companies come back after the holiday season.
N.B: The Index was launched in June 2005 with data from December 2004. It is based on a monthly analysis of millions of online job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster.
To read the full Monster Employment Index Europe please click here