Bacs payroll data provides insight into UK’s most recession-proof jobsThursday, October 28th, 2010
Bacs Payment Schemes Ltd (Bacs), the organisation that provides the Direct Debit and Bacs Direct Credit services, has published an analysis of the effect of the recession on UK job sectors. As over 90% of the UK workforce is paid via Bacs Direct Credit, the data can be used to highlight trends across 14 key job sectors.
The following summary is provided in Bacs’ news release:
- Hardest hit is the construction sector which has seen a 25% slump in the number of Bacs salary and wage payments from August 2007 to August 2010. The transport, storage and communication sector also witnessed a substantial drop of just under 19%, while manufacturing decreased by nearly 15% over the three year period.
- Meanwhile a 7% decrease in Bacs salary and wage payments in the hospitality sector is illustrative of the down-turn in the travel and entertainment industries seen during the recession.
- On the other hand, mining and quarrying (8%), health and social work (7%), and education (3%) all welcomed a small increase in Bacs salary and wage payments over the same period, highlighting a more resilient nature to these sectors. The agricultural sector, often held up as being recession-proof, experienced a 2% increase.