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June data for the UK Labour Market Indices (UK LMI) shows higher vacancy levels compared to 2012 but increased applications per vacancy. Despite in-month vacancy declines, the ICAP Vacancy Index remains positive, growing 2.39pts in June. After recent improvements however, the ICAP Unemployment Index grew by 4.1% in June to reach levels 29% above 2012.
Highlights from the June data release:
- On a MoM basis, both permanent and temporary vacancies fell in June (-6.9% and -4.5%)
- On a YoY basis however, permanent and temporary vacancies grew +6.5% and +14.5%
- A 4.0% increase in applications per vacancy in June suggests the recent falls in claimant count may start to level out
- Average offered salaries fell for a fourth consecutive month on a 3m rolling basis (-0.6%), although remains 2.3% above the same period last year
- Education & Training and Automotive remain the top two sectors with the strongest quarterly growth, with vacancies increasing 33.8% and 20.0% quarter-on-quarter respectively. Both sectors also witnessed strong growth YoY (23.6% and 38.4%)
- As noted last month, Electronics and New Media remain the two sectors with the largest declines in permanent vacancy demand over the quarter (-20.8% and -21.3% respectively). Both sectors also fell YoY (-9.7% and -3.9% respectively)
- As well as strong permanent vacancy demand, the Automotive sector once again had large gains in temporary vacancies, growing 50.5% over the quarter and 61.9% YoY
- Telecommunications saw the largest fall in temporary vacancy demand over the quarter
(-26.1%). Travel & Tourism and Advertising & PR also experienced declines of more than 20% over the three months (-23.2% and -20.9% respectively)
Headline Indices from the June data release:
|
Jun-13 |
Index Description |
|
|
UK LMI Unemployment Index |
+4.01% |
Uses the number of applications/vacancies during June 13. The index is a timely indicator for current job-seeking levels and correlates with the ONS Unemployment Claimant Count. |
|
UK LMI Offered Salaries Index |
-0.61% |
Sector-weighted average of offered salaries. |
|
UK LMI Vacancies Index |
+2.39pts |
Uses the number of advertised vacancies during June 13 to produce a timely indicator for current hiring levels by employers. The index is a leading indicator for future employment figures and correlates with the ONS Vacancies figure. |
|
UK LMI Employment Index |
+7.20pts |
Uses the number of advertised vacancies during April 13 to produce a timely indicator for employment levels during June 13. The index correlates with the ONS Employment figures. |
Sector highlights from the June data release:
Quarterly Permanent Vacancy Growth by Sector
Apr 13-Jun 13 vs. Jan 12-Mar 13
Top 5 sectors
Bottom 5 sectors
Quarterly Temporary Vacancy Growth by Sector
Apr 13-Jun 13 vs. Jan 12-Mar 13
Top 5 sectors
Bottom 5 sectors
