By Lynne Gowers on 5th October 2015

Professional vacancies ‘continue to be in good supply’

As the health of the UK economy improves, British companies continue to create new job opportunities at a relatively robust pace, according to a new report.

The latest survey data from the Association of Professional Staffing Companies (APSCo) has indicated that professional recruitment firms now have eight per cent more vacancies on their books than this time last year.

This is in line with the latest data from the Office for National Statistics (ONS), which indicated that overall employment levels increased by 42,000 in the three months to July. This trend is helping to drive up remuneration rates, with median salaries across all professional sectors increasing by 5.7 per cent year-on-year.

Looking specifically at temporary and contract vacancies, it was indicated that availability remains broadly stable across the professional staffing market, with opportunities up by 0.3 per cent year-on-year.

However, certain sectors are proving more eager to hire contractors than others, with vacancies within finance and accounting showing particular strength, increasing by seven per cent.

ONS data has indicated that the UK economy has grown 13.4 per cent since 2009, meaning many companies are moving their focus away from risk reduction and towards proactive growth. However, this often cannot be achieved without fresh investment in skills, which is why demand for contractors is proving to be strong.

Ann Swain, chief executive of APSCo, said: “The economy is losing billions of pounds a year because firms cannot access the skills they need, estimating that the cost of unfilled vacancies will amount to a whopping £10 billion of lost GDP this year.

“With this in mind, it is no surprise that businesses continue to draft in contractors with high-level or specialist skill sets that would be difficult to secure on a permanent basis.”

Written by Lynne Gowers
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