Another major labour market survey has confirmed the UK jobs contradiction in which employment opportunities are growing even as the general economy appears to be flatlining.
The Reed Job Index, which is the largest monthly index of employment trends in the UK, suggests that the market has expanded by 12% compared to this time last year, and has grown by 3% in just one month.
91% of the sectors surveyed are stronger than in January 2012, and 76% saw month-on-month growth this January. Topping the poll with a 68% expansion is the social care sector, with education coming in second at 63%. Third place goes to health and medicine, with a 52% growth in vacancies.
Despite predictions of a meltdown in the UK jobs market in the aftermath of the 2008 crisis, the doom-mongers amongst the commentariat have been proved very wrong, according to Reed’s chairman, James Reed. He continued: “Today’s reality is a steadily strengthening jobs market, with the Reed Job Index data showing that the demand for new staff has grown robustly over the past 12 months. Jobseekers are also becoming more active, as they grow in confidence to pursue new opportunities.”
The labour market’s growing capacity suggests that business confidence is returning, Mr Reed continued. This means that even if the UK technically enters a triple-dip recession, it is unlikely to last for long. Mr Reed urged policy-makers to make a jobs-led recovery their key aim in 2013.
Research by Astbury Marsden also reveals that 2,509 new vacancies were created in the City in January, which is 802 more than in January 2012.