Since the release of the Chancellor’s Autumn Statement, UK PLC has breathed easy with the prospect that the British economy is set to grow by 3% in 2015, much higher than previously predicted (+2.4%). As we continue to climb out of recession we have come to expect impressive growth in the UK economy, but not quite on this scale! In October, unemployment fell below the two million mark for the first time since the financial crisis, with a record 30.8 million people in work.
Despite this growth, there has been a sudden loss of momentum for contract roles. According to APSCo, the temporary jobs market had slowed recently, although permanent jobs are still strong (driven mostly by growth in Engineering and IT). This growth in the IT sector has been profound, and probably largely due to the ‘app economy’; developers and programmers in particular are in high demand. Another major factor pushing this growth is the threat of cyber-attacks on businesses and their data, which, though awful, does offer the IT industry a silver lining; a huge number of jobs have been created to combat hacking.