Demand for contractors in financial services sector

(2 minutes to read)

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Despite latest figures showing an overall decline for both permanent and contract vacancies, the financial services sector is seeing high demand.

The Association of Professionals Staffing Companies (APSCo) revealed that contractor vacancies decreased by six per cent year-on-year in November last year.

However, despite this dip, roles within the financial services sector rose by 14% – increasing by 10% year-on-year. Interestingly, permanent vacancies within the same industry slipped by one per cent.

Ann Swain, Chief Executive of APSCo commented on the recent findings,“While permanent placements remain strong for now, ongoing uncertainty around Britain’s future relationship with the EU, combined with predictions that the UK economy is forecast to fall in GDP rankings, means that employers are becoming more cautious with regards to future hiring.”

She added, “The number of contractors out on assignment is notably lower than a year ago, which we suspect is reflective on incoming changes to IR35 in the private sector – and with further changes to legislation around the use of contingent workers now confirmed, it will be no surprise if this trend continues.”

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