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UK – Job market more buoyant than thought?

02 August 2012

The latest figures from the Reed Job Index paint a healthier picture of the UK economy than thought as the number of new job opportunities in July grew by +13% year-on-year. The majority of sectors (68%) were posting significantly more jobs in July than in June with three quarters (74%) enjoying a more buoyant year for new positions compared with 2011, the recruitment specialist said.

“The Reed Job index has been reporting an improving jobs market since the third quarter of 2011 and it’s great to see this positive trend continuing this month,” said , Martin Warnes, managing director at reed.co.uk.

“Our figures are based on real vacancies from employers across the UK and represent a true picture of what's happening in the job market right now; they also show that the economy may be in healthier position than other macroeconomic indicators, such as the recent GDP numbers, would suggest.”

Looking at sectoral developments on the job market, social care and energy roles fared strongly month- on-month, with health and medicine, motoring and automotive, and hospitality and catering showing strong year-on-year growth.

10 out of 12 regions posted monthly jobs growth and saw more jobs than a year ago. The hardest hit regions are faring particularly well, with opportunities up by more than +6% in the North East and over +5% in the West Midlands month-on-month. The jobs market in London also continues to grow as job vacancies were up by +3% month-on-month.  

“The recession has often accentuated disparities in access to new employment around the regions, so it is encouraging that job opportunities are now on the rise across the UK. This is particularly the case within those regions that were hit hardest by the recession such as the West Midlands and North East. Indeed, recent high-profile announcements of large scale investments in the workforces of both of these regions from Jaguar Land Rover and Hitachi respectively should further support the upward trend,” Mr Warned explained. 

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