â€¢ UK jobs market growth holds steady this summer – year-on-year growth in job opportunities stands at 16%
â€¢ Construction and property sector leads growth for second consecutive month – 67% increase in vacancies year-on-year
â€¢ For third consecutive month Scotland sees biggest increase in job opportunities while Northern Ireland is only area to see a decline
â€¢ Salaries remain static
The construction and property sector continues to lead jobs market growth, according to a report published today (4th September 2013).
The findings from the latest Reed Job Index, which is compiled using data from around 150,000 vacancies advertised on reed.co.uk, showed that the jobs market held steady in August 2013 and is up 16% year-on-year. The construction & property sector is leading this growth, with a rise in job opportunities of 67% year-on-year and 3% month-on-month.
In terms of location, Scotland is experiencing the highest level of growth in job opportunities at 30% year-on-year and this is a trend that has continued for three consecutive months. The East Midlands (21%) and North West England (20%) have both seen strong levels of year-on-year growth. Northern Ireland is the only area to experience negative growth when comparing figures with August 2012, with a decline of 2%.
Throughout 2013, the jobs market has continued to grow, with the reed.co.uk Job Index now 17% higher than at the start of the year.
Overall, the Job Index now stands at 161, up from 138 at the beginning of the year.
Commenting on the latest figures, James Reed, chairman of reed.co.uk, says: “The jobs market has certainly been buoyant this summer. The construction and property sector continues to lead the charge for the second consecutive month and this is no great surprise given the current level of support for buyers. But will this be just another bubble that bursts?”
James Reed adds: “The picture across the UK is certainly an interesting one, with Scotland ranking top for growth for the third consecutive month, which is in stark contrast to the situation in Northern Ireland where the index has gone backwards. Overall, salaries remain static, which means households continue to be under pressure. I expect this will lead to more people entering the jobs market this autumn to look for new opportunities to increase their earnings.”
The Reed Job Index is compiled by reed.co.uk, through analysis of job vacancies from over 10,000 recruiters throughout the UK tracked against a baseline of 100 established in December 2009. It is the largest monthly measure of conditions and trends in employment in the UK. Reed.co.uk is the UK’s largest jobs board, receiving a total of over 120 million visits in the last 12 months and 24 million job applications.