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APSC study finds professional worker vacancies falling

The Association of Professional Staffing Companies’ newest study found that professional worker vacancies are falling steadily as demand for bankers, lawyers, and accountants drops for the third consecutive month.

The APSC study saw May’s vacancies dropping by 7 per cent, leaving to demand levels falling by 21 per cent over the course of the last 12 months. The only vacancy rate that bucked the trend was for engineering professionals, with a 6 per cent rise in comparison to 2011’s vacancy figures.

APSC chief executive, Ann Swain, said that the economic downturn has taken its toll on the employment market for professional workers, with the fears of some that the relative boom the jobs market went through at the beginning of the year would be unsustainable coming true. Employers have stepped back in order to take a ‘wait-and-see’ approach due to the possible crisis developing in the eurozone and the indications that the UK economy has slipped into a double-dip recession, Ms Swain added.

However, there are some possible bright spots to the current economic landscape, the chief executive said, and many employment experts predict that temporary contracting positions may begin to increase in popularity with employers as opposed to permanent ones. With the flexibility contract workers offer businesses, the end result could be an increased demand for freelancers, at least until the economic situation becomes more resolved and growth begins in earnest once more in the UK.

Ms Swain did say that temporary worker demand has proven to be much more resilient than demand for their permanent worker counterparts, but while contractors are relatively more in demand, the market for temporary work has also declined slightly in comparison to last year.

 

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