With the Office of National Statistics stating that the employment sector is still turbulent, contractors could be in demand for quite some time to come.
The ONS found that the three months to September saw unemployment figures drop to 2.51 million after adding around 49,00 new jobs, indicating that the British economy is beginning to show some signs of recovery. Youth unemployment decreases were thought to be the primary driver for the higher employment figures, with unemployment in younger Brits dropping below one million yet again, yet many experts warn that business confidence levels are still low and that the labour market is still finding it a struggle.
What this means for contract workers and umbrella companies is that interim working opportunities may increase, as businesses will rely upon the flexibility and low cost of using freelancers in greater numbers throughout at least the next quarter. The director for employment and skills for the Confederation of British Industry, Neil Carerry, remarked on the phenomenon, explaining that the jobs market is still quite uncertain and that firms need to control costs as much as they can in order to maximise whatever growth they can manage.
The falling employment rate is truly encouraging, said Mr Carerry, but this recovery isn’t happening as swiftly as it was earlier in 2012. The number of people that claimed Jobseeker’s Allowance last month increased by a worrisome amount, added the Confederation director, and that while youth unemployment has dropped overall recently, it’s still much too high for his liking.
