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The temporary employment market in the UK is performing “relatively well” as hiring has levelled out across various sectors, new research claims. But in the second quarter of the year there has still been a “slight” decline in employment activities among temporary staff when compared to the first quarter, recruitment agency Venn Group said today.
“Whilst there is no doubt that the employment market is experiencing turbulent times, in the second quarter of 2012 the temporary market appears to be faring very well. On the whole businesses are spending more on recruitment than last year as they increasing rely on contract staff in today’s economically unpredictable market in a bid to cut their permanent headcount costs,” said Robert Bowyer, Director of the company.
The survey found that the public sector is “enjoying high levels of activity” as demand for professionals has been high for professionals; in London, for instance, there has been +8.6% rise in jobs. Ross Gilder, Director of Venn’s Public Sector operation in London said there is still demand for financial and IT experts within the NHS to handle the transition of Primary Care Trusts to Clinical Commissioning Groups, which will design local health services in England from April 2013.
In the second quarter, temporary jobs within financial services have increased by nearly +7% after seeing a decline in the first three months of the year. “Although there have been reports that this sector is performing badly, the Interim market is still thriving as experienced professionals are being drafted in to work on projects. Asset management, regulation and compliance continue to show healthy levels of hiring as Interims are being brought in to assess finances,” said Robert McLeod, Director of Venn’s Financial Services operation in London.
In London, Commerce & Industry has seen a +7% rise in vacancies, mainly because of the Olympics. But even outside the capital hiring has kept up. The study found that companies in the North West of England have also benefited from the Games, particularly in logistics.
According to the survey pay rates among temporary workers in both the private and public sector have stayed competitive. In London professionals can earn an average of £302 a day, a decrease on the £320 recorded in the first quarter of this year. In the North West, average day rates have risen from £228 to £277 while in the South West daily pay rates have risen by £52 to £306.