State of the Market

[SchumiStars]

Todays hot role.

Manchester, 400pd inside requiring SC.

I worked for the same client in 2021 for £500 outside without SC

[dsc]

Blimey, that's scary. I keep thinking about re-retiring but that might be a one-way street even though I only work directly with a couple of clients rather than in the 'open' market.

It's crazy that businesses would think that current interest rates are 'high' when really they're pretty much average - businesses and consumers simply got used to cheap money but it was inevitable that rates would go up.

If you know clients directly, then I think you'd be fine, it's the "open" market that seems screwed completely.

As for interest rates, I agree, but we had it so good for so long and so many companies have tulip ton of debt, that now that is starting to bite them on the ass. I think sooner or later they will have to realise that they can only play this "no investment, no extra costs" game for so long, you can only fake profits for a limited time and then reality kicks in. It will however allow them to trim their teams to the very bone in the mean time.

[Cookielove]

There are now so many candidates we are well and truly sunk....another IT role on LI 480 applicants ...the visa system has well and truly scuppered the UK workforce what a sad state of affairs

[Protagoras]

It's also not just the UK, look at the US and how many people can't find work over there, especially PMs it seems, it's a bloody blood bath.

High interest rates mean everything is on hold, everyone is cutting costs, yet everyone also wants higher profits, market isn't going to go up on it's own and how do you "grow" if you can't invest? cut costs everywhere, trim it down to the bare bones and see how long it takes for rates to drop and whether you can wait out the tulip conditions.

Blimey, that's scary. I keep thinking about re-retiring but that might be a one-way street even though I only work directly with a couple of clients rather than in the 'open' market.

It's crazy that businesses would think that current interest rates are 'high' when really they're pretty much average - businesses and consumers simply got used to cheap money but it was inevitable that rates would go up.

[Fraidycat]

There is a lack of contracts full stop and by all accounts the permanent market isn’t much better.

I follow a particular niche skill, both contract and perm. Perm roles for this skill normally sit on the job boards for months, the last two ads i saw posted vanished in days.. My guess almost certainly filled and not pulled.

When companies can fill perm positions with relative ease there is less need to find expensive contractors to fill skills gaps.

[dsc]

None of this can be laid at the door of the Labour government yet.

At the moment I genuinely think we have bigger worries than IR35. There is a lack of contracts full stop and by all accounts the permanent market isn’t much better.

It's also not just the UK, look at the US and how many people can't find work over there, especially PMs it seems, it's a bloody blood bath.

High interest rates mean everything is on hold, everyone is cutting costs, yet everyone also wants higher profits, market isn't going to go up on it's own and how do you "grow" if you can't invest? cut costs everywhere, trim it down to the bare bones and see how long it takes for rates to drop and whether you can wait out the tulip conditions.

[SussexSeagull]

It wasn't him. IR35 legislation went into full force in 2019. All gov, banking, and other sectors made contractors an offer they could not refuse: go inside or **** off. Smaller clients used outside IR35 contractors for a bit, but gave up. I think we are seeing the last of the outside IR35 roles this year, because Labour detest small (well, micro) businesses. They want large permie workforce, because that's where they get their votes and money from trade unions.

None of this can be laid at the door of the Labour government yet.

At the moment I genuinely think we have bigger worries than IR35. There is a lack of contracts full stop and by all accounts the permanent market isn’t much better.

[SussexSeagull]

https://migrationobservatory.ox.ac.u...d-from-the-uk/

Immigration was higher than expected in 2023. The majority made up by Indians.

Ricki has done us over. Called over his home boys and now the UK has unemployed, highly skilled workforce.

Shirley this was the point of HS2. To get more people working in London, effectively. With COVID and WFH what's the point in HS2 and who will use it?

There is only one way out of this and that is to make London a 24hr city. We could increase the GDP of London by having shops and food outlets open all hours. Just my suggestion btw

I was no Rishi fan but giving out Visas to stop companies having to pay decent wages/day rates was going on for years before he took charge.

[squarepeg]

https://migrationobservatory.ox.ac.u...d-from-the-uk/

Immigration was higher than expected in 2023. The majority made up by Indians.

Ricki has done us over. Called over his home boys and now the UK has unemployed, highly skilled workforce.

Shirley this was the point of HS2. To get more people working in London, effectively. With COVID and WFH what's the point in HS2 and who will use it?

There is only one way out of this and that is to make London a 24hr city. We could increase the GDP of London by having shops and food outlets open all hours. Just my suggestion btw

It wasn't him. IR35 legislation went into full force in 2019. All gov, banking, and other sectors made contractors an offer they could not refuse: go inside or **** off. Smaller clients used outside IR35 contractors for a bit, but gave up. I think we are seeing the last of the outside IR35 roles this year, because Labour detest small (well, micro) businesses. They want large permie workforce, because that's where they get their votes and money from trade unions.

[SchumiStars]

https://migrationobservatory.ox.ac.u...d-from-the-uk/

Immigration was higher than expected in 2023. The majority made up by Indians.

Ricki has done us over. Called over his home boys and now the UK has unemployed, highly skilled workforce.

Shirley this was the point of HS2. To get more people working in London, effectively. With COVID and WFH what's the point in HS2 and who will use it?

There is only one way out of this and that is to make London a 24hr city. We could increase the GDP of London by having shops and food outlets open all hours. Just my suggestion btw