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Demand for Engineers eases as uncertainty spreads!
Prospects in the Engineering jobs market declined in March as uncertainty began to take hold both over concerns of the global economy and the UK, in or out EU referendum in June.
The jobs survey by Markit reported that Demand for Permanent staff across all sectors grew at its weakest rate for six months. The report indicated that demand for both Permanent and Contract staff in engineering softened. Construction faired a little better with demand increasing for Permanent staff
Commenting on the latest survey results, REC director of policy Tom Hadley is reported as saying:
“Over the last quarter permanent hiring has continued to grow, but the rate eased in March to the slowest since September 2015. While we expect jobs growth to continue overall, we are now seeing the effects of current uncertainty in the marketplace on UK employment.
Global economic headwinds plus uncertainty around a possible BREXIT make it likely that slower growth in permanent hiring will remain over the next few months as employers take a wait-and-see approach.
A number of commentators have predicted that whilst demand for Permanent Staff may ease off; the demand for Contract staff would increase as businesses looked to meet increasing demand whilst retaining the ability to react quickly to any threats that might be around the corner.
However, as yet there is no evidence to suggest that this is happening; in either the Engineering or Construction sectors, with demand for Contract staff softening in March in both.
For Engineers key points of interest in the March were:
Demand for both permanent and contract engineers softens.
Engineers most in demand:
Permanent: Electrical Engineers and Structural Engineers
Contract: Design Engineers and Electrical Engineers
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The Report on Jobs is a monthly publication produced by Markit and sponsored by the REC (Recruitment and Employment Confederation) and KPMG LLP.