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ICAP’s UK Labour Market Indices (UK LMI) Vacancy Index, an indicator for near-term employment, shows a +7.6% increase for October, compared to a -5.2% drop in September.
Despite the government’s cut backs the public and government sectors had the highest permanent vacancy growth of +25%, followed by medical and nursing (+23%) and building and conduction (+21%). Education and training faired worst, falling -15% although this may be explained by the start of the school year.
Property & Housing was once again the sector with the largest temporary vacancy growth over the past three months (+55%); strong temporary and permanent hiring increases were combined with growth in Building & Construction vacancies of +21%, suggesting encouraging signs for the housing market.
Despite this growth, vacancies remain -1.1% down on the same period last year and the prevailing high level of applications per vacancy illustrates the continued challenging employment situation in the UK economy.