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Financial firms 'cautious'

Published: Tuesday, 11 March 2008   Category: Professional & financial services

UK financial firms have been frugal with the number of permanent vacancies they advertised amid ongoing concerns over the credit crunch.

However, recruitment agency Joslin Rowe has noted that companies are still very busy, even if they are currently reluctant to commit to large increases in permanent positions, which indicates a healthy market overall.

This has led to a 42.6 per cent increase in temporary vacancies in February when compared to the previous month, as enterprises endeavour to recruit more contract staff in order to deal with short-term gaps in the workforce.

Commenting on the trend, Nabila Sadiq, managing director of Joslin Rowe Temporaries, explains: "The smaller rise in permanent job vacancies this January and February is a clear sign employers have taken a more cautious approach following recent market turmoil.

"However, in the middle office at least, there hasn't been the sort of slowdown anticipated."

She added that many companies still require staff levels "consistent" with previous years and are currently looking to the temporary market to overcome the shortfall.


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