There’s no getting away with it, the UK is in recession. For many of us, when we hear that word, we immediately think ‘job cuts, redundancy and unemployment’ and it seems our fears aren’t without justification.
However, in any economic climate, the most talented and committed will always find work and in amongst the doom and gloom, there are bright spots…
In the second quarter of 2012, the private sector hired an additional 205,000 people than were hired in Q1 yet jobs for professional staff are still less prevalent than they have been in the past. In addition, the number of vacancies is falling.
These statistics show that demand for professional-level permanent staff – a sector that until very recently helped lead a jobs recovery – fell by 7% in May leaving demand 21% off on a year-by-year basis.
According to the Association of Professional Staffing Companies (APSCo), May was the third month in a row that permanent vacancies for professional staff had fallen and demand for temporary professional-level workers, usually more resilient to worsening economic conditions also fell, down 10% year-on-year.
Notwithstanding the Eurozone crisis that is frightening almost everyone, the accountancy and finance sector is positively booming! It was the only industry sector in which vacancies for permanent candidates rose (up 2% in May).
John Nurthen of Staffing Industry Analysts said ‘demand for specialist accountancy skills particularly in London and the Home Counties is holding up quite well. To a significant degree, this is being driven by the regulatory environment’.
In addition to the news coming out of the accountancy and finance sector, the IT sector is also doing well. In fact it’s doing very well.
IT employs roughly 1 in 18 of the UK workforce and employment is set to grow by 2.2% a year. It doesn’t sound like a large number but it is almost five times faster than the UK average.
Figures from the IT Job Board, a specialist online IT recruiter show –
- Permanent IT jobs advertised are rising 11% Q-on-Q
- Average salaries for skilled PHP employees is rising 7% Q-on-Q
- Average annual salary for those working in Oracle is approaching £50,000
- Advertised contract IT jobs rose 21% Q-on-Q
- Daily rates for C++ and Java skills are over £450 with Oracle, Linux and C# over £40K
Alexandra Farrell, MD of IT Job Board says ‘More and more businesses are looking to invest in new innovations, and IT professionals with the necessary skills are in high demand. Take Cloud computing for example. Businesses now understand that it is not only a money saving device, but also a far more efficient way of running a company. The adoption rates are on an extraordinary rise. IT professionals are making business happen and they are becoming the linchpins at the heart of the European economy’.
She continues ‘Whilst there are still tough times ahead, both for the recruitment industry and the economy at large, there is evidence of better times to come, particularly within the IT industry. As businesses look at innovation and applications to remain competitive, naturally, new opportunities will arise, creating excitement, new skill sets, and most importantly, jobs’.
According to the 2011 Cloud Dividend Report, cloud computing will create 2.4m jobs across the EMEA region (which includes the UK) by 2015 which could potentially benefit the economy to the tune of almost £650bn and it’s the public sector that looks like it will be the biggest beneficiary in terms of job creation with an estimated 800,000 positions expected to be created over the next five years.
So there we have it. It’s never all doom and gloom where Asset Resourcing is concerned!
As always, we are on hand to answer any questions you have and to give you the most appropriate advice you’ll need across all aspects of recruitment, employees and jobs.
If you’re off on your holidays, have a great time and we’ll see you in August.
Ben Sweeting & Michelle Scott – Directors, Asset Resourcing