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Financial services contractor demand stable after January slump
Posted Mar 14, 2011
The number of confirmed job offers made to financial services contractors rose slightly in February, but a sustained recovery would appear to be some way off yet.
The latest Powerchex report, which details the health of the financial services recruitment market, shows that the number of permanent job offers within the industry rose by around 7% during February.
Interestingly, the bulk of this gain was a result of a 58% surge in recruitment by insurance firms. This surge covers up large drops in activity in recruitment by stockbrokers, investment banks hedge funds during the month.
After a dreadful January, in which the pre-employment screening firm registered a 79% drop in contractor demand within the financial services industry, the modest 3% rise in demand during February should come as a minor relief.
Commenting on last month's figures, Alexandra Kelly, MD and founder of Powerchex, said:
"We are also seeing some stabilisation in the number of confirmed appointments made to IT contractors working within FS, after an 80% drop in January. While this is good news for those looking for contracting opportunities, things have a way to go to recover in this area."
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