UK recruitment businesses reported that the quantity of candidates acquiring permanent jobs in May 2018 increased by 9% YOY, as per new survey data from the Association of Professional Staffing Companies (APSCo).
This research focuses on professional recruitment and uncovers prominent disparities between in terms of hiring activity. Permanent placements in financial services and IT increased by 17% and 15% respectively over the 12months. The amount of marketing professionals securing permanent positions during this time decreased by 11%.
However, APSCo’s data reveals demand for talent decreased YOY which implies that the jobs market may be reaching a pivotal point. Vacancies for perm roles lessened by 3% while demand for contractors also reduced by 8%, YOY.
Need for finance professionals, nonetheless, stays strong with openings for contractors to work in the sector rising by 22% in May 2018 together with demand for permanent candidates rising 8% YOY. Need for permanent staffing within the IT market swelled by 6% YOY.
Median salaries across all professional sectors dipped by 0.3% YOY. This is characterised by prominent fluctuations though in terms of markets, IT and engineering, for instance, showed uplifts of 2.2% and 1.5% respectively.
John Nurthen, the Staffing Industry Analysts’ Executive Director of Global Research commented, “The latest data from the Office for National Statistics for March suggested that there were 193,000 more jobs added in the UK compared to a year earlier. Unfortunately, this bounty is not benefiting professional staffing firms where our data for May suggests that perm vacancies have declined by 3% and temporary/contract vacancies by 8%. Admittedly, there are some bright spots such as social work, finance and IT, but performance across the whole UK jobs market remains patchy.”
Ann Swain, Chief Executive of APSCo, also remarked, “While professional hiring levels remain strong for now, there are subtle signs that the growth our members have enjoyed of late may be slowing. Brexit uncertainly shows no sign of abating and with the British Chambers of Commerce predicting that the UK economy is set for its worst year since the financial crisis, it is unsurprising that some employers may be hesitant to advertise new roles. However, while demand may be slipping across the board, our data shows that there are pockets of strength. Financial services and IT, in particular, continue to perform incredibly well, but only time will tell if this looks set to continue.”
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