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UK - ICAP’s LMI points to increased recruitment demand in July

14 August 2012

ICAP’s UK Labour Market Indices (UK LMI) Vacancy Index, an indicator for near-term employment, shows an 8.7% increase for July.  This growth in job vacancies brings further positive news after several months of employment stability highlighted in the UK LMI Employment Index (up 1.8% in July).  Demand for these new job roles, however, remains high with a 6.4% increase in applications per vacancy reported for July, demonstrating continued high UK unemployment levels.The UK LMI Offered Salaries Index (a Sector-weighted average of offered salaries ) was down -0.12%.

In July, Public Sector & Government reported a 34% and 19% increase in permanent and temporary vacancies respectively (a similar pattern to the Monster study above).  After the deep public sector cuts of the past few years, recruitment demand has returned with vacancies offered reaching the highest level since the 2010 General Election.   

Other sectors with a strong public sector influence such as Medical & Nursing and Social Care also experienced strong permanent vacancy growth. However, a strong decline was seen in permanent Graduate & Trainee vacancies.

Sector highlights from the July data release are contained in the following charts

Permanent Vacancy Growth by SectorMay-Jul 12 vs. Feb-Apr 12  

Permanent Vacancy Growth by SectorMay-Jul 12 vs. Feb-Apr 12

                           

Temporary Vacancy Growth by SectorMay-Jul 12 vs. Feb-Apr 12

Temporary Vacancy Growth by SectorMay-Jul 12 vs. Feb-Apr 12

ICAP is the world’s leading interdealer broker and provider of post trade risk and information services. 

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