Further sharp slowdown in online job demand

Monster's UK and European employment indices for January both registered sharp falls in the level of online job availability.  In the UK, the January index dropped by 30 points to 111 - the lowest reading since May 2006, and the steepest annual decline on record - while the European index continued a six-month downward trend by recording its biggest ever monthly decline, down 26 points to 106.

In the UK demand eased across all regions and occupational groups, with a sharp reduction of opportunities in industry sectors such as environment, architecture & urbanism, construction & extraction, engineering, and admin & organisation.  HR remained the weakest sector for jobs, declining for a seventh consecutive month.  In the South West and Northern Ireland, demand dropped by a whopping 47 points (from 223 to 176 and from 143 to 96 respectively), 

But despite the overall decline, there was a surge in demand in healthcare & social work, while education, training & library and public sector, defence & community both remained ahead year on year.

"The job market is an obvious casualty of the deepening recession," commented Hugo Sellert, head of economic research at Monster Worldwide.  "Online advertised vacancies reached a two-and-a-half year low in January.  There are some bright spots, though.  Demand remains strong for healthcare, education and other public-sector workers as government programmes work to offset private-sector job losses."

All the major European markets saw sharp declines.  And while the biggest of these occurred in the UK, Italy, France, the Netherlands and Sweden all saw falls of twenty-odd points.  Germany experienced negative annual growth for the first time in the index's history, and although the decline in Belgium was less marked than elsewhere it still took that country's index to a record low.

Across the continent, manufacturing, architecture and tourism suffered the biggest monthly falls.  But demand increased in healthcare & social work, which remains the leading sector from an annual growth perspective.

"Sluggish business activity and sustained uncertainty about a rebound from the current poor conditions have led leading companies across Europe to go on the defensive," added Hugo.  "Many markets and industries have gone from expansion mode to contraction mode in a comparatively short period of time.  Despite the pinch, some areas of the economy including healthcare and education are still showing high levels of demand."