Nov 2010

A Return to Stability?

The number of job openings in the UK rose by four points in November on the previous month to post a reading of 111, according to the latest Reed Job Index.

The index reveals job demand has risen 11% compared to December 2009, while the Salaries index rose by two points on last month.

Job demand has reached its highest level in 11 months in business services (including banking and financial services), in promotion and new media (including marketing, media and digital), and across technology areas.

Combined with the independent Office for Budget Responsibility’s announcement today that job losses within the public sector are now predicted to be around 32% less severe than previously thought, the news of continuing strengthening of the private sector jobs market is encouraging news for the national economy.

From a more local perspective, Absolute has seen a decrease in redundancies at client sites and increased hiring activity for longer-term temporary positions. Whilst it is too late to claim that we are out of the woodsm the rate at which permanent positions has grown over the past two months has been heartening, perhaps suggesting a confidence surge in market stability?