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Demand for contractors exceeds permanent market

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Freelancers will be thrilled to hear that the job market for contractors and other temporary staff is doing much better than the current permanent market.

The latest statistics, which have been taken from the Association of Professional Staffing Companies (APSCo) Monthly Trends report, have been collected by analysing job vacancies and placements across the UK professional staffing sector.

The Monthly Trends report has found that job opportunities for permanent candidates still stands at a 20.5 per cent down year-on-year; while demand for contractors have significantly risen – particularly in the finance andengineering sectors.

Vacancies for contractors in accounting & finance and engineering rose for the third consecutive month – by 37% and 3% respectively in March.

Chief Executive for APSCo, Ann Swain, explained, “The jobs market staged a rally at the start of the year, but has lost momentum over the past month. Demand for permanent candidates is still around a third down on last year. With the economy having flatlined during the past year it has been very difficult for employers to make all but the most essential hiring decisions.

“Understandably, with the outlook still uncertain employers have turned to temporary workers to plug any immediate skills gaps. Temporary workers provide a flexible resource, allowing employers to deal with short-term spikes in workload without having to add to fixed employment costs.

“The engineering sector continues to defy the uncertainty in the rest of the market. With infrastructure investment at record levels, and exporters benefitting from the weak pound, demand for engineers should remain buoyant for the duration of the year.”

Please visit our Contractor News page for all other news. To discuss this story further visit our SJD Accountancy Blog.

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