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May proved a “buoyant” month for the UK jobs market, with new vacancies increasing by +17% year on year and by +5% compared with the previous month, according to the latest Reed Job Index.
“While the UK is still technically in recession, these figures point towards a growing confidence among UK employers and we’re cautiously optimistic about the prospects for continued jobs growth over the coming month, though recruiters will be keeping a keen eye on developments in the Eurozone,” said Mark Rhodes, Marketing Director of reed.co.uk.
The monthly report on trends in the jobs market shows good growth in more than 70% of employment sectors, with health & medicine, charity & voluntary and education roles faring strongest, recording significant monthly growth rates of 22%, 19% and 18% respectively.
The index reading also improved in the month and now stands at 141 compared with 134 in April and 121 a year ago.
“It is particularly interesting that the strongest growth has come from within the support services arena. Given the macroeconomic climate, the education, charity and health sectors are all facing significant pressures so the increase in opportunities in these areas is highly encouraging,” Mr Rhodes added.
He also said that next month’s figures could have been impacted by the Jubilee bank holiday celebrations, particularly in the retail, leisure and hospitality fields.
The Reed Job Index report monitors trends in the UK labour market and is based on data collected from over 10,000 UK companies advertising on the company’s website. It covers 37 industry sectors and 12 UK regions.
Among the other key findings are the following:
- Vast majority of regional employers posting more opportunities
- Scotland, South West and East Midlands see biggest regional growth
- Salary growth remains flat