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Job opportunities across the UK are up in one of the biggest month-on-month increases for nearly two years, according to the Job Index for October published today by job board Reed.
In October 2011, the Job Index stands at 129, which is +8 index points (+7%) up from September. This reverses the decline in job demand in Q3 of this year, and brings the number of new job opportunities on offer back up to the levels last seen in Q1 2011.
Employer demand is +23 points higher year-on-year, and is +29% above the level of December 2009 when the Index baseline was set at 100. The +7% increase is the second largest month-on-month rise recorded since the Reed Job Index began.
However, salaries for new jobs stayed flat and are -2% lower than in December 2009 for the third month running, with the Salary Index standing at 97.
Employer demand for new staff rose by +10 points or more across core business job sectors, led by IT (a rise of +24 points, +16%, to173), Marketing (143) and Qualified Accountants (142), as well as in consumer-facing job sectors such as Retail (145) and Sales (143). Demand in the Public Sector is still low, but is up +9 points from the previous month to 66.
Demand for new staff increased across all 12 UK regions analysed in October. The number of new jobs on offer in London (135) rose by +10 index points compared with September, falling just short of February's record high.
Martin Warnes, Managing Director of reed.co.uk, commented "job demand across the country has recovered strongly across nearly all areas of the private sector compared to the previous quarter."
"We do need to be careful not to get carried away by one month's figures, especially as this increase only brings us back to the level of demand for new staff that the UK was experiencing in the Spring. Nevertheless, the rise suggests a return of employer optimism to a level not seen for the last eight months."