Monster Employment Index: Record decline in January

Tue, 10 Feb 2009

The Monster Employment Index UK slumped at a record rate in January.

The Index recorded a decrease of 30 points in January, while year-on-year, the Index fell by 49 points, or 31%, the steepest slump on record.

Demand in the HR sector fell for the seventh consecutive month, whereas the healthcare and social work sector recorded a large upturn in demand after a month of decline.

Hugo Sellert, head of economic research at Monster Worldwide, says: “The job market is an obvious casualty of the deepening recession. 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.”