Unemployment Figures hit 2.53 million however number of IT Contracts surge

The Chief Executive of the Recruitment and Employment Confederation, Kevin Green, said that “There have been positive signs of improving employer confidence and increased hiring activity in many sectors. However, today’s figures confirm that the private sector is some way off being able to absorb public sector job cuts. The continuing rise in the number of people seeking work is what we predicted and we expect this trend to continue over the spring, summer and autumn before starting a slow decline at the end of this year and into 2012. The onus is now on the Chancellor to announce measures in the Budget next Wednesday which will stimulate the economy and generate job creation. Today’s figures highlight the urgent need for the Chancellor to deliver a meaningful Budget for jobs. The real scandal still remains the number of young people not in work or education. The REC’s own Youth Employment Taskforce is reconvening again tomorrow (Thursday) to discuss what can be done to encourage the Government to make this a top priority and to better harness the contribution of employers through apprenticeships, internships and other initiatives.”

According to all of the latest market indicators (such as the REC’s JobsOutlook survey) the IT contract market appears to be surging ahead (especially when compared with the public sector) and driving a vastly improving UK economy. At the moment skills such as .Net, Java, C++, C# are reported to be in short supply as are developers with FX, Fixed Income or Equities experience in the financial services sectors. Many projects appear to be back on as companies attempt to regain competitive advantage and ‘steal a march’ on other players in the sector.

Commonwealth Contractors

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