04 May, 2012

Jobs Growth

The number of new job opportunities available in April showed steady year-on-year growth, in spite of a contracting economy during the first quarter of 2012.

The Reed Job Index of new vacancies showed a seven per cent rise compared to April 2011, although the Easter holidays prompted a six percent fall against the previous month. The Reed Job Index now stands at 134.

The Reed Job Index report is a leading provider of up-to-the-minute insight into the conditions and trends in the UK labour market and is based on data collected from over 10,000 UK companies advertising on reed.co.uk. The report tracks the number of new jobs and salaries on offer each month against a baseline of 100 set in December 2009. The monthly report analyses data across 37 industry sectors and 12 UK regions and is a leading indicator for future economic growth.

Commenting on the figures, Martin Warnes, Managing Director of reed.co.uk, said:

“Whilst the Easter holidays led to a disjointed period for UK business and a slowdown in job creation, the number of new opportunities available in April was seven per cent higher than the same point last year, following a steep increase in the first quarter.

“Last week’s announcement that the economy entered a double dip recession in the first quarter of 2012 is, first and foremost, a confidence blow and contradicts the general trend for growth we’ve seen throughout the last 12 months.

“The creation of new jobs in growth areas, such as Energy, Engineering and Automotive, is helping give the recovery the momentum it needs. But with the high tax burden on employers recruiting new staff, now is the time for policy makers to ensure the path to a jobs-led recovery is a smooth one.”

Credit: onrec.com

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