ICAP’s UK Labour Market Indices suggest a challenging end to the year for UK employment as summer hiring weakens
15 October 2012
London, October 15th, 2012 – ICAP, the world's leading interdealer broker and provider of post trade risk and information services, has today released September data for the UK Labour Market Indices (UK LMI) which suggests a challenging fourth quarter for UK employment after a stronger summer period.
ICAP's UK LMI Vacancies Index, a leading indicator for future employment figures, shows a 5.2% decrease for September, suggesting a likely contraction over the next few months. Vacancy growth earlier in the summer had indicated improved employment picture, but latest figures suggest this buoyant period is likely to be deflated over the coming quarter. In addition to a weakening job demand there has been an increase in applications per vacancy (+5.5% for September) and a further fall in offered salaries (-0.5% on a three month rolling basis) to the lowest level since October 2010.
Highlights from this month's data include:
- Temporary vacancy data showing strong growth since March – with Property and Housing having 40% more roles advertised, FMCG up 30% and the Public Sector increasing by 28.3%.
- Building & Construction permanent employment demand at less than a third of pre-recessionary levels.
- Public sector and Government increasing by 32.5% month on month and 75.7% up from this time last year.
- September saw a 20 point monthly rise in the number of jobs advertised across the Education and Training sector, equating to a 26% increase.
Click here to view the full press release which includes more detail on the highlights above.
Serra Balls Head of Public Relations +44 (0) 20 7050 7124
Andrea Coleman Maitland +44 (0) 20 7395 0420
ICAP is the world’s leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios.