Partner Article

Job availability across the North West up 8%

Contract Recruitment Index highlights

• There was a 8% increase in jobs month-on-month

• Business service sector fuelling boom in vacancies as firms seek out London alternatives

• Contractors come out on top with 11% rate rises month-on-month

Migration away from the Capital fuels demand for professional talent

The January 2015 North West Recruitment Index registered an 8% month-on-month increase in job availability, with 2,566 vacancies, compared to 2,366 recorded in December 2014. This surge in demand for professional talent – over a period which is traditionally impacted by seasonal hiring blips- can be largely attributed to an increase in private investment in the region as businesses and professionals migrate away from London.

Stan Murray Hession, Associate Director of Venn Group, commented:

“The business service sector is thriving across the North West. Organisations are recruiting to help manage the demand created by an influx of businesses choosing to establish themselves in the region or migrate from the capital. The BBC relocating almost 2000 staff members to its new state-of-the-art facilities in Salford is just one example of an organisation that is taking advantage of everything the North West has to offer.

“Manchester and Liverpool are now attracting talent away from London as young professionals look for alternative places to set up in the wake of the Capital’s astronomical rises in rent and cost of living. Likewise, businesses are choosing to take advantage of the lower overheads offered by cities other than London.”

Contractors gain in remuneration stakes as a result of increased demand

The average rate increase for those securing new jobs in January 2015 was 11%, with senior level contractors now demanding an average of £257 per day across the region.

Murray Hession continued:

“Positivity across the North West looks set to continue. The Government has pledged to invest an extra £56 million in Greater Manchester alone as a result of a beefed-up ‘Growth Deal’. This cash is set to be ploughed into the region’s infrastructure, including improvements to Metrolink, and an ‘Oyster’ style ticketing system on the trams.

“According to the latest Quarterly Economic Survey QES from the Greater Manchester Chamber of Commerce, the local economy is set to grow by 10% over the next three years. This is no doubt indicative of ongoing job creation in the area, as professionals will be required to meet the needs of a flourishing economy”

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