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Drop in public sector accountancy contractor roles, but confidence climbing
Posted Nov 22, 2010
Although the number of accountancy contractors working in the private sector has dropped significantly over the past year, the demand for their skills in the private sector has led to growing confidence within the sector.
The research, carried out by accountancy provider giant, shows that the proportion of accountancy contractors working in the private sector has dropped from 44.2% to 38.6% in the last 12 months, as a result of the downturn and ongoing cost cutting.
However, the private sector appears to have more than made up for the declining opportunities available in the public sector, with 6.5% of accounting contractors currently out of work for 90 days or more, compared to 7.6% a year ago.
63.4% of those polled also expect their contract rates to increase over the coming year, compared to just 61% one year ago.
MD of giant group, Matthew Brown, commented:
"There has been a significant re-balancing of accountancy skills between the public and private sectors over the past year driven by economic growth on the one hand and government cut backs on the other.
"The risk for the public sector now is that it will hemorrhage finance skills just at a time when it needs them the most to manage the cuts. Accountants will play a key roll in driving efficiency savings, but the public sector has scant room for manoeuvre when competing for the best candidates with the private sector.
"For the first time in two years unemployment among accountancy contractors is declining. Before the credit crunch less than 4% of contractors spent 90 days or more out of work, so the market still has some way to go on the road to recovery.
"With the pool of available contractors drying up, competition for candidates should drive up rates."
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