ICAP’s UK Labour Market Indices demonstrate increased hiring demand in October despite a continued challenging employment market

13 November 2012

London, 13 November, 2012 – ICAP (IAP.L), the world’s leading interdealer broker and provider of post trade risk and information services, today releases October data for the UK Labour Market Indices (UK LMI) showing strong growth in October for both temporary and permanent vacancies.  ICAP’s UK LMI Vacancies Index, a leading indicator for future employment figures, shows a 7.6% month-on-month increase for October, compared to a 5.2% drop in September.  Despite this, growth vacancies remain 1.1% down on the same period last year and the prevailing high level of applications per vacancy illustrates the continued challenging employment situation in the UK economy.

Highlights from this month’s data include:

• Both permanent and temporary vacancies grew strongly in October after declines in September (+7.6% v.s. -5.2% ).
• Claimant count decreased in September after relative stability over the last three months at a non-seasonally adjusted figure of 1553.
• Average 3 month rolling salaries fell for the seventh consecutive month to the lowest level since July 2010, now at £31,350.
• As noted last month, Property & Housing was once again the sector with the largest temporary vacancy growth over the past three months (+55%); strong temporary and permanent hiring increases were combined with growth in Building & Construction vacancies of 21%, suggesting encouraging signs for the housing market.

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