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Big drop in demand for financial services contractors
Posted Feb 17, 2011
The latest monthly figures from Powerchex suggest that the number of opportunities available for contractors in financial services dropped by a massive 79% in January.
Although the number of confirmed permanent job offers made within the industry fell by just 2% in January compared to December 2010, the fall in demand for contractors is quite startling, considering how much stability has returned to the permanent jobs market.
Alexandra Kelly, MD of the pre-employment screening company, commented:
"The fact that the number of available opportunities for IT contractors fell by almost 80% in January is a worrying development in its own right.
"However, putting the latest figures into context, there are 32% fewer opportunities now than in January 2010 when the job market was really competitive. Many organisations appear to be delaying funding decisions to see what other companies are doing and make sure they are not over‐committing themselves in non‐core projects. This is not good news for IT contractors."
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