September 29th 2009:
6472
points

Change across September

Overall:             -2.29%               
IT:             -2.39%               
HR:             -4.26%               
Marketing:             -1.11%               
Accountancy:             -2.20%               

Headline Figure: 

The index has recorded a two and a quarter percent drop in the number of advertised vacancies across the month of September. The Ashdown Group Jobs Index (AGJI) lost 151 points over the month ending on 6472 points.

Summary - Employment Market still in a Fragile State:

The downward trend represents a warning that the stabilisation seen in the last three months could have been a false dawn.

Since June 2009 the index has gained and then dropped back leaving the jobs market flat over the period.

The biggest climber had been the information technology sector, gaining 5% in August, this dropped back 2.4% during September in line with the overall Index.

The number of finance positions continues to fall, as it has done over the last three months - contracting by 2% in September, although the sector had weathered the storm better during the first half of the year. This month the hardest hit sector has been HR with vacancies down 4% over the month.

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

‘The initial spike of vacancies seen in August may have been a reaction to businesses choosing to lift headcount freezes and we are now seeing a return to normal levels. The fall in HR vacancies is unsurprising as we see businesses continuing to bring their cost base in line with current trading volumes.

'More worryingly we are seeing a number of very large employers in distress with widespread redundancies still a possibility. Market confidence is very fragile and certainly in contrast to a number of reports of an imminent recovery.

'The traditional autumn outlook would suggest that the number of vacant permanent jobs falls away from a September peak to a Christmas low.

Bleak Winter Ahead

'Based on these figures and if the trend continues, we are likely to see unemployment rising towards the end of the year, this will undoubtedly have a negative effect on consumer confidence and a knock on effect into the already troubled retail sector.'