IT contract market continued expanding in Q4 2011
The IT contract market continued to expand in the fourth quarter of 2011, with vacancy numbers growing by 5.1% compared to the previous quarter. The figures, compiled by www.jobsadswatch.co.uk, also showed that there were 25.2% more contracts on offer than in the fourth quarter of 2010. Recruiters dominate IT recruitment, as 87.5% of permanent and contract vacancies in the period were advertised by agencies, the remainder directly by clients. “Historically contractors are the first to be discarded and the first to be employed,” said the report, which notes that the figures are a good indicator of the state of IT recruitment. More…
Upstream oil and gas contractors set to benefit from renewed sector investment in 2012
Oil and gas contractors in upstream roles look set to benefit from significant new investment by oil and gas firms in 2012. Big spenders: the outlook for the oil and gas industry in 2012 by The Economist Intelligence Unit and consultants GL Noble Denton, reports that 41% of oil and gas industry professionals anticipate increased investment in exploration activities during 2012, with only 4% anticipating a decline. Contract risk professionals may also receive a boost as 82% of those surveyed agree that regulatory issues driven by the Deepwater Horizon Macondo blowout have become more important. More… (registration required)
Contractors essential for firms to compete in ‘Human Age’, Manpower boss tells Davos
Contractors underpin the flexible and agile staffing model needed to allow companies “ to successfully navigate the Human Age”. This is according to Manpower Group Chairman and CEO Jeff Joerres in a presentation to the World Economic Forum (WEF) in Davos. “Clients are telling us they need to be more flexible and agile to react to this environment. Manpower is seeing the global contingent workforce grow as a result," said Joerres. Global businesses continue to report talent shortages in the core contracting disciplines of IT, engineering and finance, with firms increasingly turning to the ’contingent workforce‘ of contractors for solutions.
‘Fragile’ conditions in manufacturing impact on contractor prospects
Contractor prospects in the manufacturing sector look less certain, according to the latest Quarterly Industrial Trends Survey from the Confederation of British Industry (CBI). Modest rises in output are forecast for the first quarter of 2012. But for the first time in two years both export and domestic orders have fallen and order books are considered to be below normal. According to CBI Director General John Cridland, despite the eurozone crisis there is cause for optimism, which bodes well for contractors: “There are some tentative signs that things could improve somewhat in the coming quarter. Key factors behind this include the fact that the US recovery has been better than expected.” More…
Contractors asked for their views on unnecessary company law
Contractors have been asked to provide feedback to the government on unnecessary bureaucracy in company and commercial law as part of the latest Red Tape Challenge campaign. Topics under the ‘spotlight’ include rules on shares, accounting rules, business names and information disclosure. The company law consultation is open from 26th January and will run to 16th February. Contractors can make their views known at redtapechallenge.cabinetoffice.gov.uk.
Core contracting sectors contribute to falling economic output
Falling construction, manufacturing and energy output, plus a static services sector, led to a fall in economic output of 0.2% of Gross Domestic Product (GDP) in the final quarter of 2011. The public sector strike on 30 November, estimated to have lost 1m working days, received a special mention in the Office for National Statistics’ Statistical Bulletin as having a negative impact on growth. Construction underwent its traditional December slowdown, but the unseasonably warm weather resulted in falling energy output. Although falling growth is directly impacting on some key contracting sectors, the uncertainty may work in contractors’ favour as firms delay permanent hiring in favour of contractors. More…
New jobs and skills resource for contractors seeking to enter the oil and gas sector
Contractors looking to move into the oil and gas sector, or new contractors just starting out, can now find out about the latest jobs and training from a new online resource. Myoilandgascareer.com has been launched by the oil and gas sector’s skills body OPITO. It aims to provide careers and education information to students, as well as to experienced contractors currently in other sectors. More…
Contractors receive HMRC reminder about tax returns and VAT
Contractors have just days to submit their self assessment tax returns for 2010/2011, and from 1 April 2012, will be required to submit all their VAT returns online. HMRC has reminded contractors that failing to submit their tax return by the deadline will lead to an automatic £100 fine, even if they have no tax to pay. Penalties escalate rapidly to reach £1,600 or more for returns that are 12 months late. HMRC also reminds limited company contractors that, from 1 April 2012, all VAT returns must be filed online.