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UK – Finance jobs make a come-back

03 June 2013

The latest hiring trends report by Staffing Industry Analysts and the Association of Professional Staffing Companies (APSCo) is showing first signs of a rebound in the white collar job market, following a bleak winter.

In the accounting and finance sectors both permanent vacancies and placements have grown by +2% during April for the first time since September 2011, a trend replicated in the temporary market. John Nurthen, Executive Director International Development for Staffing Industry Analysts, said this is encouraging news.

“But we’d need to see the positive momentum continuing for a couple of more months before we could be confident that the market is recovering properly. Nevertheless, our expectation for the UK staffing industry as a whole was that a weak first half of the year would lead to a better second half. The first half certainly seems to have lived up to expectations and the latest data in the monthly trends report suggests we can be cautiously optimistic about the remainder of the year,” he added.

Overall, the data shows that temporary placements rose by +5.7% in April, while the decline in vacancies eased compared to a year ago. Engineering remains the most resilient of the professional sectors with skill shortages still dominating the picture. This is evidenced by the increasing number of vacancies versus a falling number of placements with the contract market having to take up the slack.

Ann Swain, Chief Executive of APSCo, said: “This is obviously good news and the fact that official figures are telling us that full time work is still increasing faster than part time work and that overall vacancy rates are growing is evidence that things are slowly getting better. In fact latest official data shows a rise of almost 9% year on year in vacancy levels and a fall in the jobseekers claimant count of over 4% - a figure that surprised analysts who were expecting no change.”

Subscribers to Staffing Industry Analysts’ latest research can access the latest hiring trends report here.

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