Temporary Workers Continue Jobs Growth

IT contractors are again in demand according to pre-employment screening firm Powerchex. After worrying figures for IT contractors earlier this year things have certainly picked up; with the IT sector leading the way with jobs growth and a fall in the level of unemployment this week.

Speaking about their figures, which show a 23% rise in March for IT contractors working in financial services, Powerchex MD Alexandra Kelly said;

“This is the second consecutive month that we have seen an increase in recruitment levels within Financial Services and this is especially good news for jobseekers, not least because they have not had a huge amount to smile about over the past few months.”

Despite the rise of 23% she said she was “cautiously hopeful” that the jobs market for financial services IT contractors is improving.

Recruitment agency de Poel have also found that the use of temporary workers increased by over 10% in March. Their chief executive Matthew Sanders said that this shows that businesses are still wary about employing permanent staff, which means that contractors and freelancers who provide short term labour are benefiting. However, he warned;

“With the new agency workers’ regulations coming into force in October, organisations need to start preparations for the introduction now; otherwise there could be a huge increase in the cost of temporary labour.”

At a time when the jobs market has been described as ‘volatile’ there is a particular worry about the increased amount of red tape and employment legislations placed on businesses and workers. Although, figures such as these should ease concerns and give confidence to contractors and freelance workers.

ICS work with a team of experts in employment and tax law to ensure our services are fully compliant with existing IR35 legislation and the latest government regulations, such as the AWR. You can contact us now for a tailored proposal based on your individual circumstances as a contractor.