European online job vacancies rise in July

Online job vacancies in Europe rose slightly in July from June as strong growth in Germany offset declines elsewhere, according…

Online job vacancies in Europe rose slightly in July from June as strong growth in Germany offset declines elsewhere, according to the Monster Employment Index for Europe.

The index, which Monster compiles from online job postings on corporate career sites and job boards in Germany, France, Italy, Britain, Belgium, the Netherlands and Sweden, rose to 167 from 166 in June.

"European online hiring activity remained mostly steady in July as weaker demand in Scandinavia, Benelux and the UK was offset by sustained growth in Germany and Italy," Monster said in a statement.

The July reading of 167 was broadly in line with the trend observed since February, when the index jumped from 139 to 165.

Germany, the euro zone's biggest economy, posted a 10-point rise to a record high of 150, with many employers struggling to find qualified staff.

By contrast, there were sharp drops in Sweden (down 19 points) and the Netherlands (down 9 points) as well as more moderate falls in Belgium (down 4 points), Britain (down 3 points) and France (down 2 points).

Monster said the index was up by 19 points, or 13 percent, year-on-year, indicating sustained expansion in the European Union labour market but also marking the lowest growth reading since March 2007.

"Employers are definitely hiring at a slower pace than they were a year ago," said Hugo Sellert, head of economic research at Monster Worldwide.

The data suggested that, despite signs of slackening growth across the euro zone, job creation was still holding up relatively well in many countries, he said.

"Right now, I think we're in a period of measured slowdown but nothing dramatic with the exception of Sweden, Benelux and the UK to some extent."

Agriculture and professional services such as accounting and legal services suffered the strongest declines but there were strong rises in demand for staff in manufacturing and production as well as construction and extraction.