PAYE Umbrella contractors with expertise in the IT skills market have received more comforting news in a new report from the specialist IT recruitment company, The InterQuest Group. The research contains exceptionally promising data showing that the private sector is presently growing so healthily that it’s more than offsetting the contraction in the public sector.
The latest Trading Update from InterQuest surveys recruitment during the whole of 2010 to December 31st. The figures reveal especially vigorous growth in the financial services sector – and it’s this growth which is in turn generating a prolonged surge in IT recruitment.
Commenting on the findings, InterQuest’s Executive Chairman, Gary Ashworth told Recruiter magazine that he expects the positive trend to continue during 2011. He revealed that his own IT recruitment firm had “remained profitable” all the way through the economic downturn, and was entering this year with an “expanded business” which included a further eight divisions. He conceded that InterQuest had seen a depletion in public sector work, but added that this had been “more than offset” by the growth in the company’s private sector business, especially in financial services. This positive trend, he said, has continued into 2011.
Professionals in IT contracting will find the news encouraging, especially as it coincides with a study from the industry analyst Ovum, which shows that the global IT services sector enjoyed an unexpected boom in the final quarter of 2010, despite pessimistic forecasts. The market exploded back to life in the final quarter after a depressingly sluggish previous nine months, thanks chiefly to the closing of some massive deals at the end of the year.