Member Article

Job availability across East of England up 53%

Contract Recruitment Index highlights

• There was a 53% increase in jobs month-on-month

• Strong economy driving demand for accounting professionals across private sector

• Despite increase in vacancies, rates fall 17% across region month-on-month

Strong economy fuels demand for accounting professionals

The January 2015 East of England Recruitment Index registered a 53% month-on-month increase in job availability, with 2,800 vacancies, compared to 1,825 recorded in December 2014. This surge in demand for professional talent – over a period which is traditionally impacted by seasonal hiring blips- can, in part, be attributed to strong demand for accounting professionals across the private sector.

Avtar Singh, Associate Director of Venn Group, commented:

“There has been a notable rise in vacancies within accounting across the East of England spurred by an increase in economic confidence. Across commerce and industry, sectors are starting the year in a better position than they were twelve months ago, and good results across the majority of retailers operating in the region - thanks to healthy pre-Christmas sales – have created an immediate need for experienced professionals to work in finance departments. An increase in M&A activity across the East of England has also created demand for project accountants with exposure to change management and streamlining departments.”

Contractors rates decline due to above market rates paid in December to secure talent

The average rate for those securing new jobs in January 2015 was 17% lower than those recorded in December 2014, with senior level contractors now commanding an average of £217 per day across the region. This dip can be attributed, in part, to particularly high rates being offered in December as organisations scrambled for talent to fulfil unprecedented demand in the run up to Christmas.

Singh continued:

“According to the ONS, the East of England has the highest level of employment at 76.6%. And with recent research from the CBIfinding more than half of employers in East of England plan to expand their workforce this year, this positive outlook looks set to continue”

This was posted in Bdaily's Members' News section by Venn Group .