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Positive Contractor Growth

There has been a steady increase in demand for engineering and IT contractors over the last few weeks, according to recently released surveys.

The main sectors have all seen an upturn in contractor placement figures, although permanent jobs have been harder to come by.

A sudden fall in the number of IT contractors hired in September was cause for concern amongst those currently on the bench or approaching the end of their contracts, with the downturn providing little comfort to those likely to be looking for positions. However, these new statistics for October, released by Monster, will certainly encourage those seeking work, as the overall picture for on-the-bench contractors appears to have stabilised substantially.

Whilst it is impossible to say what the market will do next, Monster have commented that the it is in a better position than it was this time last year, which can only be a positive and reassuring fact.

The demand for engineering contractors has also grown; good news compared to September’s zero growth statistic.

Contrastingly, the Recruitment and Employment confederation (REC) and KPMG have reported a fall in the amount of permanent positions available. Factors such as the recession and the current Eurozone crisis have created an air of uncertainty about the future economic climate, and this is reflected in the preference of many companies to engage contract staff rather than perms. However the survey conducted by the REC did re-emphasise the growth of contracting opportunities and also revealed that rates of pay have increased.

Though a bit of a mixed bag, this new set of statistics indicates a certain amount of positives for contractors, which many hope will continue.

By Sean Dudley

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