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Venn Index reveals growth in contractor hiring

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The latest Venn Index has revealed positive news for limited company contractors and freelancers across the UK, as it has shown that there are now three per cent more people successfully working in the temporary job sector.

The study carried out by Venn Group, which is a quarterly survey of hiring trends, found that there was an overall rise in temporary recruitment during the third quarter, apart from in the London area…

The capital experienced a 15.5% decrease in temp hiring, however, all UK regions performed better in Q3 of this year, compared to Q2.  It is thought that the reason behind London’s decline in vacancies is due to the end of the Olympics.

The financial sector has also struggled, with vacancies down 16.4% on the last quarter, although this is hardly surprising considering the current economic crises across Europe.

However, IT contractors are thriving, which is mainly due to the amount of new investments being made into websites, digital marketing and infrastructure.

Robert Bowyer, director of Venn Group, said, “As predicted in the last edition of the Venn Index, the economy is showing positive signs of recovery and temporary employment levels in the UK are once again on the up.”

He added, “Following a lull in quarter two which can be attributed to the Olympics and extra bank holidays; the economy is back on an upward trajectory. This has been reflected in recent figures released by the Office of National Statistics which show that the country has emerged from double-dip recession after one per cent GDP growth last quarter.”

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

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