State of the Market

[SussexSeagull]

My Mrs is a Test Manager, been well dead up to now.
She is just getting 1 or 2 calls now, but it's still well slow.

It might be picking up a little now but not the expected post Summer bounce.

[AndrewK]

It might be picking up a little now but not the expected post Summer bounce.

Jobserve query: C#. London. 65-100£ per hour range. Last 3 days (Ok it is Tuesday).
Result:
3 Jobs.

Impressive.

And it is September not January...

[Dark Black]

Been out since the end of June, and only then because the client ran out of work....

It's really so quiet, was hoping for the September bounce but as others have said it doesn't seem to be happening...

[blackeye]

I think its largely to do with Brexit, and the affect it has had on the job market. I read that the job market in the financial services industry has never been so bad.

[oliverson]

You're in IB, right? I'm not massively surprised w/r to the general trend in IB, plus the post-Brexit situation. I haven't noticed anything in my particular niche area (mainly math/stats consultancy for large civil engineering projects), but it's a world away from the London IB scene. Perhaps it's IT more generally though...

Historically IB yes, though not since 2014 when I received my second rate cut at the same place and decided enough was enough. Since then it's still the financial sector, mostly in London but current gig ends in a month or so, hence my focus on the market.

[uk contractor]

Deutsche bank is a big worry for financial services when it goes it will take a lot of others with it along with plenty of jobs. Its been on borrowed time since 2008 the only reason its not fallen yet is all the undisclosed ECB bailouts but now Merkel has clearly stated no more bailouts its going sooner or later & could become a catalyst for another selloff.


Deutsche & Brexit have both stalled the jobs market in financial services A lot of the advertised jobs do not exist either many agencies think its a good idea to put ghost ads up to populate their database then try to market those into clients!

[rocktronAMP]

Deutsche bank is a big worry for financial services when it goes it will take a lot of others with it along with plenty of jobs. Its been on borrowed time since 2008 the only reason its not fallen yet is all the undisclosed ECB bailouts but now Merkel has clearly stated no more bailouts its going sooner or later & could become a catalyst for another selloff.


Deutsche & Brexit have both stalled the jobs market in financial services A lot of the advertised jobs do not exist either many agencies think its a good idea to put ghost ads up to populate their database then try to market those into clients!

This is a **** up situation and it needs to stop. Problem is that neither us knows how to stop recruiters making up fake job advertisements. I see a lot. I thought hosting a site in Africa or Russia, but then I read some of forums here on legality and stuff. I have motivation when on the bench to may be build a website, but when I am off it, the idea, it goes for a button

Regarding the state of the market, I am starting to get worried just a tiny little bit. The recent content in September does provide fruit for thought. I suppose that we, contractors, are getting the squeeze from both ends: the chancers from India or somewhere abroad attempting to get in the UK market with cheap rates and the lock down / freeze out from London financial services, especially, investment banking and the latter effect is a time-delay effect of months.

The obvious question then what is the trend for permanent side of the fence? Because if that side is also failing them we could be in eventual trouble.

[LondonManc]

This is a **** up situation and it needs to stop. Problem is that neither us knows how to stop recruiters making up fake job advertisements. I see a lot. I thought hosting a site in Africa or Russia, but then I read some of forums here on legality and stuff. I have motivation when on the bench to may be build a website, but when I am off it, the idea, it goes for a button

Regarding the state of the market, I am starting to get worried just a tiny little bit. The recent content in September does provide fruit for thought. I suppose that we, contractors, are getting the squeeze from both ends: the chancers from India or somewhere abroad attempting to get in the UK market with cheap rates and the lock down / freeze out from London financial services, especially, investment banking and the latter effect is a time-delay effect of months.

The obvious question then what is the trend for permanent side of the fence? Because if that side is also failing them we could be in eventual trouble.

More interestingly, how long can HMG hide the numbers of unemployed rising if the job market has tanked. With so many contractors benched, it's surely only a matter of time before they have to start claiming or at least considering it, especially if warchests aren't big.

[uk contractor]

This is a **** up situation and it needs to stop. Problem is that neither us knows how to stop recruiters making up fake job advertisements. I see a lot. I thought hosting a site in Africa or Russia, but then I read some of forums here on legality and stuff. I have motivation when on the bench to may be build a website, but when I am off it, the idea, it goes for a button

Regarding the state of the market, I am starting to get worried just a tiny little bit. The recent content in September does provide fruit for thought. I suppose that we, contractors, are getting the squeeze from both ends: the chancers from India or somewhere abroad attempting to get in the UK market with cheap rates and the lock down / freeze out from London financial services, especially, investment banking and the latter effect is a time-delay effect of months.

The obvious question then what is the trend for permanent side of the fence? Because if that side is also failing them we could be in eventual trouble.

Perm is no better a lot of those are too scared to jump ship & contract so stay to keep the mortgage going = less opportunity all round & companies prefer EU IT workers @ 30-50% less pay than us pesky UK citizens! and willing to do lots of unpaid additional hours!!

[uk contractor]

More interestingly, how long can HMG hide the numbers of unemployed rising if the job market has tanked. With so many contractors benched, it's surely only a matter of time before they have to start claiming or at least considering it, especially if warchests aren't big.

I think the HMG attitude towards contractors is F0AD!!! I understand there was a 14% drop in contractor hiring in August that has to show up somewhere sooner or later I doubt the new PM even knows what day it is let alone how to hide important data!!