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ICAP, the world's largest interdealer broker, has revealed the launch of its UK Labour Market Indices, helping to monitor employment and salary levels, sectoral and geographic trends as well as hiring conditions. These indices are specifically aimed at recruitment and human resources professionals, as well as economists and researchers, the firm said on Tuesday.
Data will be provided by digital recruitment group, Evenbase, and ICAP unveiled that the indices will provide a leading indicator for the labour market, which anticipates upcoming Office of National Statistics (ONS) figures. It will also include an unemployment index and vacancy index. 48 sectors will be covered, including retail, public sector, manufacturing, engineering and financial services, in order to increase the understanding of hiring trends across several UK regions, the firm said.
“These indices provide an unparalleled insight into key trends in the UK labour market. They are based on a unique source of employment information, covering more than 60 per cent of all job listings in the UK, providing data earlier and with greater granularity than information currently available to financial market participants,” said Kevin Taylor, Global Head of ICAP Information Services.
The indices are derived from vacancy advertisements and applications routed through and processed by recruitment software owned by Evenbase, which has recently been acquired by the Daily Mail and General Trust Media Group. This software is used by more than 35,000 recruiters to post vacancies on thousands of job boards and other channels. It is typically managing 150,000+ vacancies at any one time.