"It is encouraging to see the Index recover quickly from July’s dip in online recruitment, despite the backdrop of the sub-prime mortgage issue and credit crunch, which economists expect to have a negative effect on the labour market", said Alan Townsend, COO, Monster UK and Ireland. "The full repercussions have not been felt yet but the Index has shown strong growth so far this year and looks to build on this trend throughout the rest of 2007."
The majority of industry sectors experienced an upturn in hiring across the UK in August, with notable growth in arts, entertainment, sports and leisure; and administrative, organisation leading the way. For the second month in succession, the banking, finance and insurance sector saw the largest decline in online job opportunities. Demand in hiring in the education, training and library industry also declined significantly in August.
Craft-related workers was the largest growing occupation for the second month in a row, once again fuelled by strong demand in the production, manufacturing, maintenance and repair industry. Demand for clerks also grew significantly. Professionals; and service workers and shop and market sales workers saw significant decreases, led principally by decreases in Northern Ireland and Scotland respectively. For the third consecutive month, demand for skilled agricultural and fishery workers dropped.
The South West saw the biggest increase in online recruitment, largely due to increased opportunities in management and consulting. The increase was also bolstered by growth in hospitality and tourism, despite opportunities in this industry decreasing in most other UK regions. North England also grew significantly, in contrast to the decline in July. The biggest contributor to growth in both regions was craft and related workers. Northern Ireland and East Anglia declined the most as opportunities in banking, finance, insurance decreased, despite both seeing an upturn in demand for clerks.
The arts, entertainment, sports and leisure sector grew by 35 points, outstripping growth in the industry in July. Year-on-year, the industry has grown by 38 percent. Apart from Northern Ireland, all regions showed growth in this sector with the Midlands and London the main contributors.
