2003 job creation index (JCI) figures announced

Technology and services sector rise as general ëChristmas lethargyí slowsdown job creation but 2003 figures paint positive picture

The UKís Insurance and Pensions and Technology sectors both saw significant increases in new employment positions in December, with increases of 124% and 81% respectively compared to Novemberís figures, according to the monthly Mandis/Adecco Job Creation Index (JCI). Despite a seasonal reduction in job creation for December, 2003 has seen 731,605 jobs created amongst the surveyed companies.

The JCI figures are determined by comparing the number of jobs created within UK industrial sectors each month with an average number created for each month during 2003. The JCI figure shows industry performance, measured as a percentage above or below the JCI average.

During December 2003, a total of 30,885 jobs were created, a 13,972 decrease from November. This adds weight to the argument that companies are ëwriting-offí December due to the ever-lengthening festive period. From these figures, the following trends have been highlighted:

Decemberís Front Runners
Insurance and pensions with a JCI score of 54 increased from the 2003 baseline

Electronics and computer hardware/software returned to form with a JCI score 26

Gas, oil, electricity, coal, nuclear, water saw a consecutive increase on November with a JCI score of 20
Decemberís Chasers

Support services & consulting dropped from its recent highs with a JCI score of ñ77

Leisure, sports, entertainment, catering, hotels, dropped significantly from a November high with a JCI score of ñ76

Retailing and wholesaling dipped slightly from November with JCI of ñ24, but still created 18,505 jobs during the month

Richard Macmillan, Managing Director of Adecco UK and Ireland said: ìWith Christmas festivities starting increasingly early, many sectors saw a predictable drop in job creation as things wound down for the holiday period. In December, we saw the Utilities sector continue its seasonal upturn as energy consumption increased, however the most promising finding was the strong increases in the Technology and Insurance and Pension sectors, marking a return to confidence in these key employment industriesî

2003 Job Creation Overview
Decemberís figures now show a complete picture for 2003. The summer months saw a peak in the JCI with June as the top-performing month, where 98,988 jobs were created.
MacMillan continued, ìLooking at our own data in the UK, we are now starting to see job creation outstripping placements, which has started to have an upwards pressure on wages ñ a further sign that things are improving. Despite the December slowdown, 2003 has been a very positive year in terms of overall job creation and given based on these trends 2004 looks to be even stronger.î

The Mandis/Adecco Job Creation Index is the ongoing monthly tracker of UK jobs created across 21 industries in the UK. 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.

Ray Murphy, Managing Director of Mandis Business Intelligence, comments: ìThere is an underlying optimism across most sectors as the year ends, which has not necessarily been reflected by recruitment activity in December. Many employers are holding back until the New Year before actioning their recruitment plansî.