APSCo figures show increase in permanent contractor placements

Demand for permanent professionals increased in October, with an annual rise of 0.2 per cent in vacancies, according to the latest figures from the Association of Professional Staffing Companies (APSCo).

The data, which concentrates on professional recruitment, showed that while demand fell across all of APSCo’s core sector groups, permanent placements increased across a number of sectors.

Stable

The total number of contractors dropped by 8 per cent last month, which comes as a result of a 30 per cent year-on-year drop in the number of contracted IT professionals. However, the finance and engineering sectors saw growth in this area in October, with the number of contractors that were out on assignment rising by 14 per cent and 6 per cent respectively.

The data also showed salaries across core sector groups remained stable, including a 3.8 per cent increase in financial services and engineering recording an uplift of 2.9 per cent. Average salaries were also up by 0.4 per cent year-on-year.

Strong

Commenting on the figures, APSCo Chief Executive Ann Swain said: “While it’s encouraging that permanent placements remained stable in October, hiring activity in certain sectors is booming. Despite the Bank of England’s prediction that Brexit could cost London 75,000 finance jobs, for example, both permanent and contract hiring in the City remain stubbornly strong. And at a time when UK manufacturing order books are at their strongest level since 1988, engineering is also performing particularly well, with the number of contractors out on assignment up 14 per cent year-on-year.”