Contractor demand drives growth in UK jobs market, says report
A recent report has suggested that the strong growth witnessed by the UK labour market during the last quarter, has been mostly down to the increase of contracting placements.
The research, carried out by Hays Group, found that overall, performance remained stable throughout the quarter, with temp fees staying resilient. However, the permanent markets seemed fragile globally.
According to the findings, the UK and Ireland reported good growth of 7% and it is thought the reason behind this is due to contractor and other temporary worker’s increased demand, with temp business increasing by 12%, while permanent business was flat.
The report also found that nine of the 12 regions delivered year-on-year net fee growth including the North West, Scotland and Northern Ireland, the Midlands and Yorkshire, all of which grew by more than 10%. Within the private sector business, net fees increased by 6%
Hays Group’s chief executive, Alistair Cox, said, “We have delivered a good performance in the final quarter of our financial year. Our focus has remained on reacting quickly to the world as it changes, selectively investing in markets where we see opportunities while keeping firm control over costs around the Group. This approach, combined with the well-diversified, balanced business model we have built, means we’ve delivered a resilient financial performance for the full year.
Looking ahead, we expect continued fragile and mixed conditions. Several markets are likely to remain challenging and these will sit alongside clear opportunities for growth. The diverse business we have built positions us well and we remain focussed on delivering long-term, sustainable growth while driving profits along the way.”
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