The Ashdown Group Jobs Index (AGJI) tracks the number of advertised permanent jobs at the Ashdown Group and the leading Internet job boards within the IT, Marketing, Accountancy and HR sectors. Data is compiled throughout the month and released in the first few days of the following month.

February 26th 2010:
7955
points

Change since January

Overall:           +11.97%               
IT:           +14.25%               
HR:             +6.31%               
Marketing:             +9.66%               
Accountancy:           +10.63%               

Headline Figure: 

The Index has recorded an increase of 11.97% in the number of vacancies advertised in February compared to January. The Ashdown Group Jobs Index (AGJI) now sits at 7955 reaching a new high.

Summary - Strong growth in all sectors:

There has been a strong increase in the number of jobs being advertised across all sectors. Leading the way, the IT sector has shown the strongest performance with a 14.25% increase in positions advertised.

Accountancy and marketing have seen increases of 10.63% and 9.66% respectively.

On the back of a huge surge in demand during January, the number of HR positions has risen again, this time by 6.31%.


Short-term and medium range forecast from John Lynes, Director of the Ashdown Group: 

‘The UK job market is beginning to gather pace. There were 19% more vacancies advertised through February 2010 than during the low of September last year.

'The market’s intention to hire and retain can clearly be seen in the movement within the Human Resources sector, given the 21% surge in January. I would have expected a slight drop back or flattening of demand during February, instead we have seen demand for HR professionals continue with 27.3% growth in the number of vacancies over the past 2 months. As I predicted in January, the HR sector will settle back down in the coming months and having seen the smallest increase of our sectors in February, this eventuality appears to be under way.

'We predicted steady growth within the IT sector in line with the IDC/Microsoft study produced last year. Current levels of demand are unsustainable and will add upward pressure to salaries and the return of a strong contract market if they continue. There is a possibility that some of the demand for staff within the commercial sector will be relieved by a cut in spending within public sector IT projects.

'The Accountancy market has seen a healthy increase in demand; this sector has not usually been affected by external factors as dramatically as the other three. The second half of 2009 had seen a slow decline in demand. Remarkably, this six month drop has been wiped out in February alone. If demand continues to be strong, there is a potential situation where any future shortfall in candidates within the accountancy sector may have a stifling effect on business growth.'

Marketing

'The Marketing sector has outperformed any other sector over the past 6 months. There has been a 27.5% increase in the number of jobs advertised in February 2010 versus July in 2009. There is a war for market share raging and the companies with the greatest marketing budgets are winning. Increased marketing budgets are fuelling a demand for quality marketing professionals. As predicted in previous forecasts, demand remains strong, I don’t foresee this changing throughout 2010.'

Conclusion:

'It was only a matter of time before employee confidence in the job market returned. The recession had prevented many employees from moving to a new role for fear and uncertainty in future job security.

'The increase in demand for staff has seen jobseeker confidence return, and we are now experiencing more fluidity in the job market with a greater number of applications from people looking to move from an existing position, than returning from unemployment.

'Historically the start of the year has been a popular time to seek new employment. Some of the growth in demand seen in February 2010 can be attributed to this but we are seeing a new found confidence in business with many positions being created through organic business growth, long may it continue.'