Finance Sector Recruitment Levels Stall

Tuesday, October 4, 2011 Print Email

Job opportunities for accounting and finance professionals are getting fewer, according to two surveys out this week which highlight a decline in the level of both permanent and contract vacancies over the summer.

Research by Badenoch & Clark shows that permanent vacancies in the accountancy and finance sector fell by around 9% month-on-month in August and September, while contract vacancies dropped by 13%. Permanent salaries showed only a marginal increase, and contract pay rates remained flat.

Taxation and governance experts continued to be in demand, because of legislative changes and the government’s new banking regulation proposals, according to the survey.

Nicola Linketer, managing director Badenoch & Clark, said: ‘Market volatility and the summer break have clearly reduced the demand for permanent accounting and finance staff. We expect this to pick up as stability returns.’

The latest Reed Job Index confirms that overall job opportunities across the UK slipped back during September, down 1% compared to August, while demand for new banking staff continued to decline to reach the lowest level recorded since the index began.

Martin Warnes, managing director of reed.co.uk, said: ‘The economy seems to be treading water at the moment. Demand for new staff is falling back in key areas of the financial sector such as banking and general insurance. At the same time there are signs that the much-sought rebalancing of the economy is a possibility, as sustained growth has returned to job-sectors like engineering and manufacturing

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