February 2005 Job Creation Index (JCI) figures released

Over 42,000 jobs were created across the UKís 21 key industries in February 2005 with a 47 per cent rise in the number of jobs created compared to February 2004 supporting the early predications for strong employment growth in 2005 across a number of verticals. The retail and consumer goods sectors saw a positive surge in job demand with nearly 14,000 jobs created across the two industries making them key front-runners in February.

The JCI figures are determined by comparing the number of jobs created within UK industrial sectors each month with the number of jobs created for the corresponding month in the previous year. The JCI figure shows individual industry performance, measured as a percentage above or below the number of jobs created from a year ago. From these figures, the following trends have been highlighted:
Februaryís Front Runners

Consumer goods ñ February saw a significant rise in job creation in the consumer goods sector with a positive JCI of 442

Retail and wholesaling ñ The top front runner of 2004 seems to be continuing its success into 2005 with 13,305 jobs created in this sector alone

Finance and banking ñ Despite the rise in consumer spending this month it does not seem to have affected the finance and banking sector. This month saw the finance and banking sector create 4,431 positions

Technology ñ Employment prospects in the technology sector has seen significant growth this month and the job creation index has risen to 309 demonstrating strong growth potential for the year and an important return to confidence for this volatile sector

Februaryís Chasers

Insurance and pensions ñ This sector is still suffering from the decline in public confidence after the spotlight was turned on the state of pensions in 2004. The JCI has dropped to ñ81

Telecommunications ñ Job creation in the telecommunications industry suffered a downturn this month with a JCI of -76

Richard MacMillan, Managing Director of Adecco UK and Ireland said: ìFebruary has been a positive month for job creation with a number of sectors emerging as front-runners. Consumer goods, retail and finance and banking have all demonstrated strong growth potential and it will be interesting to follow this as the year progresses and see whether they can generate the same success seen in 2004. Stable UK industries such as printing and packaging also remain strong contenders on the job creation index. Previous months have seen the media and marketing industry suffer a downturn in job creation but this seems to be improving with a slow upturn in job creation in February.î
MacMillan concludes, ì67 per cent of the key industries tracked on the job creation index have shown a positive growth in February confirming the predications made in January that 2005 is set to be a strong year for employment prospects. We look forward to seeing this happen.î

Ray Murphy of Mandis commented, The quarterly period Dec 04 - Feb 05 recorded a 27% increase in new job creation compared to the same period a year ago. Usually the New Year kicks off on a plateau or even with a dip, but in 2005 job creation has moved forward strongly from the start of the year reflecting employer confidence across many sectors.

The Mandis/Adecco Job Creation Index is the ongoing monthly tracker of UK jobs created across 21 industries in the UK that enables year on year monthly comparisons. This ëliveí data is gathered via research during each month into the employment intentions of 500 leading UK organisations, providing a key, up-to-date indicator on economic performance and confidence across the sectors. The monthly study is conducted by Mandis Business Intelligence and sponsored by Adecco, the UKís largest recruiter.