• Jobs market loses pace in August: new vacancies on offer falls 4% since July
• Annual growth continuing in key sectors, including Automotive and Construction
• Scotland only region to see month-on-month growth
The recovery in the jobs market stalled in August, with 3% fewer new vacancies available than in July, according new figures released by reed.co.uk.
The number of jobs on offer in August was at its lowest since May, as the Reed Job Index of new vacancies fell for the first time this year.
However, annual growth in new jobs continued at more than 30%, with Motoring & Automotive (+73%), Transport & Logistics (+64%) and Construction & Property (+56%) amongst the fastest growing sectors. The Reed Job Index now stands at 211 points.
Political uncertainty in Scotland does not appear to have impacted the jobs market: it was the only UK region to show month-on-month vacancy growth during August at +0.6%. All other regions showed negative monthly growth in August.
Commenting on the latest figures, James Reed, Chairman of reed.co.uk, said:
“Whilst we would expect the effects of the holiday season to slow the jobs market in August, the latest figures are lower than we might have expected given the growth we’ve seen so far this year.
“Annual growth remains encouraging, but August’s figures remind us that we cannot take the recovery for granted. The four months until Christmas will tell us a lot about just how sustainable the recovery is.”
Other findings from the Reed Job Index include:
• A 2.26% increase in Reed Salary Index (Aug 13 – Aug 14)
• Transport and Logistics is fastest moving sector with 97.3% growth in job vacancies in the period January to August 2014
• A 36.7% increase in roles available in East Anglia (Aug 13 – Aug 14)Job market dip points to uncertain recovery by Mark Rhodes