This means employer demand has risen 28% since December 2009, when the index's baseline was set at 100. Private sector growth is responsible for this increase, with new public sector jobs slipping further back to less than half the level they were when the index began.
Salaries on offer for new jobs are still down 1% in real terms since December 2009 and continue to lag behind rising inflation. At the same time, a few initial indications of skills shortages have appeared, with salaries above the December base-line and rising in areas such as administration, estate agency, hospitality & catering and HR job sectors. In banking, salaries for new jobs have reached their highest level since the Index began.
Martin Warnes, managing director of reed.co.uk, said: "The sharp rise in job creation witnessed in January and February has slowed, indicating that economic recovery should not be taken for granted. Indeed, rising inflation, rising unemployment figures and international turbulence have been reminders that the economy remains fragile.
"However job creation is well ahead of last year. Encouragingly, this growth has been spread across a wide range of private sector areas, from engineering and manufacturing right through to service sector staff, from strategic consultants to catering. With high job competition keeping salaries flat, this is a good time for employers to find the talented people they need."
