Uncertainty is in the air following the result of a hung parliament, but let’s share some good news – demand for IT contractors soared in the four weeks running up to June 2017, hitting the highest point all year.
The research carried out by the Recruitment & Employment Confederation (REC), found that demand spiked to 61.9, making it the best performing month for IT contractors in terms of demand, during 2017, and the whole of 2016.
The highest level previous to this was in April 2015 at 62.2, a whole two years back.
Why the demand?
So, let’s explore number one, it’s the word that has been circulating around for months on end; Brexit.
Theresa May triggered article 50 on March 29, 2017, after delivering a letter to European Union headquarters in Brussels, notifying the EU president, Donald Tusk, of Britain’s intention to leave the EU. This activated the two-year countdown before Britain drops out of the European Union.
Theresa May has always championed a ‘hard Brexit’, and her aim for Britain to leave the single market. Since the public voted to leave the EU, there has been uncertainty around the citizenship of EU workers residing in the UK. As a result, many EU workers have pulled the plug, and left the UK as Theresa May failed to reassure them of their futures in this country.
‘Droves’ of EU workers leave
REC have said that EU workers have left in ‘droves’, leaving a gaping hole of vacant jobs, which opens up opportunities for contractors. As a result of EU workers leaving the UK, the NHS has become highly reliant on temporary staff.
It has also been reported by REC that there is a shortage of cyber security contractors.
The Future of IT Contractors
As Theresa May draws closer to concluding a deal with the Democratic Unionists Party, the date of the Queen’s speech has finally been set to June 21, 2017. The announcement will lay out a list of laws that the new government wishes to pass, which will then be voted upon in the House of Commons.
Initially, Theresa May pledged to overhaul key areas of self-employment, but as she was forced to form a government with the DUP in order to gain a majority, it is unclear as to how much of the Conservative agenda Theresa May will be able to implement.
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