Online recruitment in the UK has fallen for the fourth month in a row, leading to it reaching the lowest level in the last 18 months.

The most significant fall was seen in the banking, finance and insurance sectors with human resources reaching its lowest level for two years.

All occupational industries experienced a decline in online recruitment for the second consecutive month, according to the Monster Employment Index.

Hugo Sellert, head of economic research at Monster Worldwide, said the latest index findings suggest overall job losses are likely to intensify in the current climate.

"While the private sector is growing ever more cautious about adding staff the public sector is showing that it less affected by a struggling economy," he added.

The index showed there were increases in online recruitment for jobs in the public sector, defence and community.

Monster’s Employment Index was launched in 2004 and provides data on online job demand in countries worldwide.