The London Contract Market Boom May 2010

19th May 2010

At BITE we are happy to report on the contract market boom at last. Following a very poor year in 2009 for contracting with many people just looking for any job we are happy to see a boom in the need for contractors in London.

At BITE Consulting we deal with IT, Computing, and Banking and Finance contractors helping them gain contracts in the London UK contract market.

Currently anyone with the right skills and approach to their jobsearch will gain a contract within 2-4 weeks. This is almost unheard of as the traditional time period as always been 4- 6 weeks and in the recession 12 -16 weeks.

Why it’s simply a function of economics supply and demand in the London area, with a reduction in the number of Australian , New Zealand and Australian Staff arriving in the UK combined with an upswing in demand as the London economy has recovered then this has caused an acute shortage of skilled English speaking contractors with a flexible approach to their work and travel plans.
As a results, rates are up and people can find work relatively quickly if they adopt the right approach.

Infact we believe the contract market is in one of the best positions for new arrivals to London than it has been in for the last 10 years.
As you can see from the figures below the boom is concentrated in London where the Banking industry has got over the problems of last year and the biased in the service sector paid dividends. Elsewhere in the UK the climate is less rosy where a stronger emphasis on manufacturing and production prevails.