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Permanent Financial Services Jobs Up 20 Per Cent

23 May 2018

Permanent Financial Services Jobs Up 20 Per Cent

The number of permanent financial services jobs in the UK is up by almost 20 per cent according to new figures.

The research, by the Association of Professional Staffing Companies (APSCo), also revealed a strong rise in permanent IT vacancies, with the sector posting a 10 per cent increase over the last twelve months.

Permanent jobs in the engineering sector, however, has pretty much levelled out, with just a fifth of one per cent new jobs on offer in the industry.

Overall, permanent vacancies across all sectors in the United Kingdom were up by around 9 per cent, but with the financial services sector more than doubly outpacing the average growth rate.

Commenting on the new figures, Chief Executive of APSCo, Ann Swain, said:“Despite last week’s suggestion from the Bank of England that the UK economy is past its peak, the market for highly-skilled talent continues to escalate.”

“However, while permanent professional hiring activity remains strong across the board, there is no escaping the influence that Brexit uncertainty continues to hold over the sectors our members recruit into. While financial services is clearly emerging from the period of hesitancy it found itself in post-referendum, it now seems the engineering sector may be putting the brakes on hiring until there is more clarity around trade borders.”

“The strength in permanent recruitment levels is also offset against a significant dip in contractor demand. And, with the publication of the long-awaited consultation on off-payroll working in the private sector just published, this trend looks set to continue,” added Ms Swain.

Analysing the data, the Executive Director of Global Research at Staffing Industry Analysts’, John Nurthen, said: “The continued improvement in permanent hiring for professional staff is unsurprising set against a positive UK employment rate of 1.2% for the first quarter of 2018.”

“While this is good news, it does mask some challenges in the labour market such as declining public sector employment and severe skills shortages for highly skilled professionals,” said Mr Nurthen.

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